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Significant insolvent trading decision in the UK Supreme Court - creditors' interests in the twilight zone
2022-10-11

The United Kingdom Supreme Court has just released an important insolvency judgment in BTI 2014 LLC v Sequana SA [2022] UKSC 25 (Sequana), which concerns when and the extent to which directors of a company must consider the interests of creditors.

Filed under:
New Zealand, United Kingdom, Company & Commercial, Insolvency & Restructuring, Litigation, Buddle Findlay, Insolvency, UK Supreme Court
Authors:
Scott Barker , Luke Sizer
Location:
New Zealand, United Kingdom
Firm:
Buddle Findlay
View Original Article
Directors' Duties Under English Law — How to Lead in Difficult Times
2022-07-01

Elon Musk recently said he has a "super bad feeling" about the economy, pithily declaring what most financial commentators have been predicting in more technical terms.

Filed under:
United Kingdom, Company & Commercial, Insolvency & Restructuring, Litigation, Katten Muchin Rosenman LLP, Coronavirus, UK Supreme Court
Authors:
Sonya Van de Graaff , Prav Reddy , Mark Johnson
Location:
United Kingdom
Firm:
Katten Muchin Rosenman LLP
View Original Article
What does today's Sequana decision mean for directors?
2022-10-05

Background

On 5 October 2022, the Supreme Court handed down its long-awaited judgment in BTI 2014 LLC v. Sequana S.A. [2022] UKSC 25 concerning the trigger point at which directors must have regard to the interests of creditors pursuant to s.172(3) of the Companies Act 2006 (the "creditors' interests duty").

Filed under:
European Union, United Kingdom, Insolvency & Restructuring, Litigation, Public, Dentons, Brexit, Supply chain, Coronavirus, Insolvency, UK Supreme Court
Authors:
Tessa Blank , Neil Griffiths , Luci Mitchell-Fry , Ian Fox , Celia Hayward , Richard Pallot-Cook
Location:
European Union, United Kingdom
Firm:
Dentons
View Original Article
Supreme Court confirms directors' duty to creditors in limited circumstances
2023-04-19

Key takeaways

In BTI 2014 LLC v Sequana SA and others,1 the UK Supreme Court considered for the first time the existence, content and triggers of the obligation on directors to have regard to the interests of creditors when a company becomes insolvent or is bordering on insolvency (the Creditor Duty).

This decision addresses important issues for directors, stakeholders, and advisors of UK companies.

Background

Filed under:
United Kingdom, Company & Commercial, Insolvency & Restructuring, Litigation, DLA Piper, UK Supreme Court
Authors:
Tom Laidler , James Carter , Dan Jewell , Maria Scott
Location:
United Kingdom
Firm:
DLA Piper
View Original Article
Significant insolvent trading decision in the UK Supreme Court - creditors' interests in the twilight zone
2022-10-11

The United Kingdom Supreme Court has just released an important insolvency judgment in BTI 2014 LLC v Sequana SA [2022] UKSC 25 (Sequana), which concerns when and the extent to which directors of a company must consider the interests of creditors.

Filed under:
New Zealand, United Kingdom, Company & Commercial, Insolvency & Restructuring, Litigation, Buddle Findlay, Insolvency, UK Supreme Court
Authors:
Scott Barker , Luke Sizer
Location:
New Zealand, United Kingdom
Firm:
Buddle Findlay
View Original Article
Directors' Duties Under English Law — How to Lead in Difficult Times
2022-07-01

Elon Musk recently said he has a "super bad feeling" about the economy, pithily declaring what most financial commentators have been predicting in more technical terms.

Filed under:
United Kingdom, Company & Commercial, Insolvency & Restructuring, Litigation, Katten Muchin Rosenman LLP, Coronavirus, UK Supreme Court
Authors:
Sonya Van de Graaff , Prav Reddy , Mark Johnson
Location:
United Kingdom
Firm:
Katten Muchin Rosenman LLP
View Original Article
What does today's Sequana decision mean for directors?
2022-10-05

Background

On 5 October 2022, the Supreme Court handed down its long-awaited judgment in BTI 2014 LLC v. Sequana S.A. [2022] UKSC 25 concerning the trigger point at which directors must have regard to the interests of creditors pursuant to s.172(3) of the Companies Act 2006 (the "creditors' interests duty").

Filed under:
European Union, United Kingdom, Insolvency & Restructuring, Litigation, Public, Dentons, Brexit, Supply chain, Coronavirus, Insolvency, UK Supreme Court
Authors:
Tessa Blank , Neil Griffiths , Luci Mitchell-Fry , Ian Fox , Celia Hayward , Richard Pallot-Cook
Location:
European Union, United Kingdom
Firm:
Dentons
View Original Article
Supreme Court confirms directors' duty to creditors in limited circumstances
2023-04-19

Key takeaways

In BTI 2014 LLC v Sequana SA and others,1 the UK Supreme Court considered for the first time the existence, content and triggers of the obligation on directors to have regard to the interests of creditors when a company becomes insolvent or is bordering on insolvency (the Creditor Duty).

This decision addresses important issues for directors, stakeholders, and advisors of UK companies.

Background

Filed under:
United Kingdom, Company & Commercial, Insolvency & Restructuring, Litigation, DLA Piper, UK Supreme Court
Authors:
Tom Laidler , James Carter , Dan Jewell , Maria Scott
Location:
United Kingdom
Firm:
DLA Piper
View Original Article
Significant insolvent trading decision in the UK Supreme Court - creditors' interests in the twilight zone
2022-10-11

The United Kingdom Supreme Court has just released an important insolvency judgment in BTI 2014 LLC v Sequana SA [2022] UKSC 25 (Sequana), which concerns when and the extent to which directors of a company must consider the interests of creditors.

Filed under:
New Zealand, United Kingdom, Company & Commercial, Insolvency & Restructuring, Litigation, Buddle Findlay, Insolvency, UK Supreme Court
Authors:
Scott Barker , Luke Sizer
Location:
New Zealand, United Kingdom
Firm:
Buddle Findlay
View Original Article
Directors' Duties Under English Law — How to Lead in Difficult Times
2022-07-01

Elon Musk recently said he has a "super bad feeling" about the economy, pithily declaring what most financial commentators have been predicting in more technical terms.

Filed under:
United Kingdom, Company & Commercial, Insolvency & Restructuring, Litigation, Katten Muchin Rosenman LLP, Coronavirus, UK Supreme Court
Authors:
Sonya Van de Graaff , Prav Reddy , Mark Johnson
Location:
United Kingdom
Firm:
Katten Muchin Rosenman LLP
View Original Article

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