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    Out of court appointments of administrators: a return to reason
    2018-11-13

    When appointing administrators out of court, there is requirement to specify the date and time the appointment is made. This is a development arising since April 2017 as a result of the Insolvency Rules 2016 coming into force. Given that appointments are generally effective at the point of filing, it has been unclear how (absent a crystal ball) practitioners should address the requirement when preparing the Notice of Appointment form. A recent High Court decision resolves the issue, confirming that a notice making reference to a future filing is acceptable.

    Filed under:
    United Kingdom, Insolvency & Restructuring, Litigation, Lewis Silkin LLP
    Authors:
    Mark Lim
    Location:
    United Kingdom
    Firm:
    Lewis Silkin LLP
    Bankrupt's COMI: Deutsche Apotheker-Und Arztebank EG v Dr Ralph Rainer Leitzbach & Others
    2018-11-21

    A discharged Bankrupt had intentionally misled the Court as to his COMI being in England and Wales in order to obtain a Bankruptcy Order. Four years after the making of the Bankruptcy Order, the Court annulled it on the grounds that the Court did not have jurisdiction to make the Order in the first place.

    Filed under:
    United Kingdom, Insolvency & Restructuring, Litigation, Ashfords LLP, Bankruptcy, Debtor, Dividends, Debt, European Council
    Authors:
    Olivia Bridger , Alan Bennett
    Location:
    United Kingdom
    Firm:
    Ashfords LLP
    Right to adjudicate under attack?
    2018-11-21

    Since the Construction Act came into force over 20 years ago, it has been a central tenet of the construction industry that a party can start an adjudication at any time, on any dispute (subject to questions of crystallisation or the dispute having already been decided).

    However, it is interesting that two recent Court decisions seem to have called this into question - Michael Lonsdale v Bresco and Grove v S&T.

    Filed under:
    United Kingdom, Construction, Insolvency & Restructuring, Litigation, Real Estate, Macfarlanes LLP, Technology and Construction Court
    Authors:
    Richard Rowlatt
    Location:
    United Kingdom
    Firm:
    Macfarlanes LLP
    Debts and connected obligations - what’s the difference?
    2018-11-21

    The recent Court of Appeal decision in the case of Doherty -v- Fannigan Holdings Ltd [2018] EWCA Civ 1615 considers the issue of whether a failure to pay for shares, as provided for under an agreement between the parties is a debt on which a statutory demand can be based.

    Filed under:
    United Kingdom, Insolvency & Restructuring, Litigation, Hill Dickinson, Share (finance), Debtor, Breach of contract, Consideration, Debt, Joint venture, Liquidation
    Authors:
    Kathryn Maclennan , Kate Steele
    Location:
    United Kingdom
    Firm:
    Hill Dickinson
    (1) Russell Crumpler (2) Sarah Bower (Joint Liquidators of Peak Hotels & Resorts LTD in Liquidation) v Candey LTD (2018)
    2018-11-21

    The joint liquidators of Peak Hotels & Resorts Limited ("Peak") brought an unsuccessful appeal that a legal charge held over funds paid into court ("Funds") was incapable of enforcement. The court dismissed the appeal on the basis that Peak did retain a proprietary interest over the funds.

    Filed under:
    United Kingdom, Insolvency & Restructuring, Litigation, Ashfords LLP, Interest, Deed, Reinsurance, Liquidation
    Authors:
    Alan Bennett , Emma Hindon
    Location:
    United Kingdom
    Firm:
    Ashfords LLP
    Pensions News: Friday 23 November
    2018-11-22

    Pensions New (PN) has often had cause to ask himself what he knows.  A similar sort of question was frequently posed by the French essayist, Michel de Montaigne.  Montaigne lived between 1533 and 1592 and he answered this question over the course of a period of time during which he produced several volumes of great essays.  In those volumes, Montaigne covered many subjects however he never covered the subject of the occupational defined benefit pension scheme.  So far PN knows, this is the first article ever written about Montaigne’s relationshi

    Filed under:
    United Kingdom, Employee Benefits & Pensions, Insolvency & Restructuring, Litigation, Shoosmiths LLP, Defined benefit pension plan, The Pensions Regulator (UK), Pension Protection Fund, UK Supreme Court
    Authors:
    Paul Carney
    Location:
    United Kingdom
    Firm:
    Shoosmiths LLP
    Court allows derivative claim on pre-pack administration to proceed
    2018-11-23

    The court has decided to allow a shareholder to pursue a derivative claim on behalf of a company that was placed into a pre-pack administration.

    What happened?

    Montgold Capital LLP v Ilska and others involved a restaurant company which was placed into a “pre-pack” administration, under which its entire business was sold, in late 2016.

    Filed under:
    United Kingdom, Company & Commercial, Insolvency & Restructuring, Litigation, Macfarlanes LLP, Derivative suit, Companies Act 2006 (UK)
    Authors:
    John Dodsworth , Dominic Sedghi
    Location:
    United Kingdom
    Firm:
    Macfarlanes LLP
    You Say Advance, I Say Repay - What Does the Court of Appeal Say?
    2018-11-27

    Clarification by the Court of Appeal (England and Wales) on Contracts

    Case: Leibson Corporation and Others v TOC Investments Corporation and Others [2018] EWCA Civ 763 (17 April 2018).

    Filed under:
    United Kingdom, Company & Commercial, Insolvency & Restructuring, Litigation, Morrison & Foerster LLP, BNP Paribas
    Authors:
    Sonya L. Van de Graaff
    Location:
    United Kingdom
    Firm:
    Morrison & Foerster LLP
    Supreme Court rules on Trust Deed appeal
    2018-11-06

    On 31 October 2018 the Supreme Court issued its Judgment in the appeal of Dooneen Ltd (t/a McGinness Associates) and another (Respondents) v Mond (Appellant) (Scotland) [2018] UKSC 54.

    The appeal had been brought by Mr Mond who had sought to overturn the decision of the Inner House of the Court of Session (Dooneen Ltd & Others V Mond [2016] CSIH 59).

    Factual background

    Filed under:
    United Kingdom, Scotland, Insolvency & Restructuring, Insurance, Litigation, Private Client & Offshore Services, Shoosmiths LLP, Payment protection insurance, UK Supreme Court, Court of Session
    Authors:
    Andrew Foyle , Peter McGladrigan
    Location:
    United Kingdom
    Firm:
    Shoosmiths LLP
    Can a liquidator adjudicate a dispute that arose under a construction contract?
    2018-11-07

    In August 2018, in Michael J Lonsdale (Electrical) Limited v Bresco Electrical Services Limited (In Liquidation) 1 Mr Justice Fraser had the opportunity in the context of CPR Part 8 proceedings to clarify whether or not a liquidator can pursue a claim in adjudication arising out of a construction contract.

    Filed under:
    United Kingdom, Construction, Insolvency & Restructuring, Litigation, Fenwick Elliott Solicitors, Wrongful dismissal, Debt, Liquidation, Construction contracts, Civil Procedure Rules (UK), Technology and Construction Court
    Authors:
    Andrew Weston
    Location:
    United Kingdom
    Firm:
    Fenwick Elliott Solicitors

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