LBI EHF (in winding up) v. Raiffeisen Zentralbank Österreich AG and Raiffeisen Bank International AG [2017] EWHC 522 (Comm)

Minding the Gap

JCAM Commercial Real Estate Property XV Limited -v- Davies Haulage Limited [2017] EWCA Civ 267

Summary

The Court of Appeal has closed an important loophole benefitting tenants that are considering options for insolvency.

The Court of Appeal recently made an important decision on the equity of exoneration in the case of Armstrong (As Trustee In Bankruptcy Of Onyearu) V Onyearu & Anor (2017).

The UK case of Cherkasov & Ors v Olegovich, the Official Receiver of Dalnyaya Step concerns an application for security for costs against a liquidator.

A Russian court appointed a liquidator to the Russian subsidiary of a Guernsey unit trust.  The liquidator applied for recognition of the liquidation proceeding as a foreign proceeding in the UK under the Cross-Border Insolvency Regulations 2006.  The application for a recognition order was granted.

The liquidators of a group of companies related to property investor, David Henderson, have recently been ordered to pay a substantial sum for security for costs to the former directors and auditors of the group.  In Walker & Ors v Forbes & Ors the plaintiffs sue the former directors and auditors of the group for alleged breaches of duties.  The proceedings have been allocated a trial of 12 weeks commencing in February 2018.  We reported on disputes over the litigation funding arrangement in this proceeding in an earlier 

In a comprehensive judgment arising out of the collapse of Lehman Brothers, the UK Supreme Court recently determined the ranking of creditors.

Principally, the Court held that Lehman Brothers International (Europe)'s subordinated debt holders were "at the bottom of the waterfall", behind statutory interest and non-provable debt claimants.

Summer 2017

Editor: Melanie Willems

IN THIS ISSUE

You Swynson, you lose some

by Robert Blackett 03

10

14

The rule of English law - why Brexit, however blindly foolish it

is, should not matter for arbitration

by Melanie Willems

Unintended consequences - be clear what you advise on

by Ryan Deane

T H E A R B I T E R [ S E A S O N ] 2 0 1 7 2

T H E A R B I T E R S U M M E R 2 0 1 7 3

You Swynson, you lose

some

by Robert Blacke

Lowick Rose LLP (in liquidaon) v Swynson

What is its aim?

The general principle of the protocol makes sense: provide the debtor with all the information in order that they can make an informed decision, and respond regarding payment or any issues they disagree with and try and avoid involving the court where possible. In a genuine dispute where proceedings might otherwise be brought prematurely before the individual debtor had a chance to review and consider all the information, this level of consumer protection is welcomed.

The Technology and Construction Court in England has refused pre-action disclosure of the insurance policy of a currently solvent insured, notwithstanding that a successful claim would have resulted in the insolvency of the insured.

Factual background

In a judgment handed down on 17 March 2017 (but which has only recently become publicly available) in Catalyst Managerial Services v Libya Africa Investment Portfolio,1 Mr Justice Teare held that an After The Event (ATE) insurance policy put before the court in purported satisfaction of a security for costs order, was not in a reasonably satisfactory form.