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    English Insolvency Service Drops Case Against Carillion Directors: What Does It Mean For Director Liability?
    2025-01-06

    The role and duties of company directors are well established in English law through the Companies Act and case law. These principles are widely applied in many jurisdictions, including the Bahamas, where UK cases about directors’ liability and related issues carry considerable weight.

    Filed under:
    Bahamas, United Kingdom, Company & Commercial, Compliance Management, Insolvency & Restructuring, ParrisWhittaker, Corporate governance, Insolvency Service (UK), Companies Act 2006 (UK)
    Authors:
    Jacy Whittaker , A. Kenra Parris-Whittaker
    Location:
    Bahamas, United Kingdom
    Firm:
    ParrisWhittaker
    Preferring a Creditor: Operative Decision and Intention
    2023-12-11

    When does a company give a ‘preference’ in breach of insolvency legislation? The award-winning corporate attorneys at ParrisWhittaker are highly experienced in advising companies and creditors on corporate insolvency matters when they need timely advice.

    An important appeal court ruling on the timing of a decision made to enter into a transaction provides clarity on what may amount to a preference in a creditor’s favour. The UK Court of Appeal has persuasive authority on the courts in The Bahamas and should be noted.

    What is a ‘preference’?

    Filed under:
    United Kingdom, Insolvency & Restructuring, Litigation, ParrisWhittaker, Insolvency
    Authors:
    Jacy Whittaker , A. Kenra Parris-Whittaker
    Location:
    United Kingdom
    Firm:
    ParrisWhittaker
    Beyond Reach: Moving Assets To Avoid a Debt
    2023-10-10

    Anyone considering moving assets beyond reach of bona fide creditors should appreciate that the courts will adopt a wider approach that should discourage such conduct.

    An important ruling1 shows that the courts take a broad approach to what may amount to a ‘transaction’ that places an asset out of reach of the victim. Avoiding a debt is tempting but highly risky, particularly where high value assets are at risk, such as real estate and commercial interests.

    Filed under:
    United Kingdom, Insolvency & Restructuring, Litigation, ParrisWhittaker, Liquidation, Court of Appeal (UK)
    Authors:
    Jacy Whittaker , A. Kenra Parris-Whittaker
    Location:
    United Kingdom
    Firm:
    ParrisWhittaker
    Crystal Ball Not Required
    2022-12-27

    Company directors owe several fiduciary duties, one of which is to act in the best interest of shareholders. But to what extent does that duty to shareholders apply in the context of the financial health of the company? The award-winning commercial and litigation lawyers at ParrisWhittaker are experienced in advising company directors on their duties, including where there are concerns around the lawfulness of paying dividends.

    Filed under:
    Bahamas, United Kingdom, Company & Commercial, Insolvency & Restructuring, ParrisWhittaker
    Authors:
    Jacy Whittaker , A. Kenra Parris-Whittaker
    Location:
    Bahamas, United Kingdom
    Firm:
    ParrisWhittaker
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