In Purewal v Countrywide Residential Lettings Ltd [2015] EWCA Civ 1122, the receivers of a property did not make an insurance claim in relation to damage to the property.  The mortgagor of the property (a bankrupt) repaired the property himself.  He brought an action against the receivers for breach of duty by failing to make an insurance claim, claiming damages for the cost of the repairs.

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The High Court has considered whether the title to a freehold property could be re-vested in a company restored to the register of companies where the Crown had disclaimed its interest whilst the company was dissolved.

Background

Re Lyondell Chemical Co, et al; Edward Weisfelner, as Trustee of the LB Litigation Trust v LR2 Management K/S [18.09.15]

US Bankruptcy Court confirms that a trustee in bankruptcy could not avoid freight payments made by charterers shortly before they applied for bankruptcy protection.

Implications

The English High Court has for the first time directly addressed the question of the extra-territorial application of s233 of the Insolvency Act 1986. The Official Receiver as Liquidator of Sahaviriya Streel Industries UK Ltd sought an order to restore access to an IT system provided to the Company by its parent company in Thailand. In granting permission to the Official Receiver to serve the application out of the jurisdiction, the Court was persuaded by the reasoning in the recent cases of Jetivia and Re Paramount Airways which concerned other provisions of the Insolvency Act 1986.

In Bellis v Challinor [2015] EWCA Civ 59 and Gore v Mishcon de Reya [2015] EWHC 164 (Ch) the question arose whether monies transferred to a solicitors’ client account were held on trust for the solicitors’ client or on a Quistclose trust for the transferor. Both decisions have provided clarity as to when a Quistclose trust will be found to exist and the nature of the construction exercise the court will undertake.

Section 236 Insolvency Act ("IA") 1986 enables the Court power to summon persons with information about the affairs of a company to appear before it and / or to produce documents. In our August bulletin we considered the decision of the English High Court in Re MF Global [2015] EWHC 2319 when it was held that s236 does not have extra-territorial effect. However, having looked at the issue again in Official Receiver v Norriss [2015] EWHC 2697, the High Court has departed from the position in Re MF Global.

This article considers the cost consequences following service of a statutory demand in two scenarios:

Introduction:

The Government has launched a new consultation on a number of technical and regulatory changes affecting pensions legislation. One of the proposed changes is to amend the entry rules in relation to the Pension Protection Fund (PPF). The consultation follows on from the recent Supreme Court decision in Olympic Airlines and the introduction of specific legislation to ensure the beneficiaries of that particular scheme received protection in circumstances where the entry rules otherwise excluded them.

In Re Fivestar Properties Ltd, the High Court has decided that a dissolved company which is subsequently restored to the register could have its freehold property re-vested in it, even though the property had passed to the Crown bona vacantia and the Crown had subsequently disclaimed it.