Julian Kenny QC appeared for the Appellants in the Supreme Court who handed down judgment 11 May, a much anticipated ruling by shipowners and subsidiary companies affected by the OW Bunker collapse.

The judgment affirms the rulings of the Court of Appeal and of first instance Judge, Males J, that a contract for the supply of bunkers that a shipowner had entered into with a subsidiary of the now insolvent OW Bunker company was not one to which the Sale of Goods Act 1979 applies.

Retailers BHS and Austin Reed have recently gone into administration, leaving 11,000 and 1,200 jobs respectively at risk. In such uncertain times, what rights do affected employees have?

What is administration?

As we reach the 30th anniversary of the Insolvency Act 1986, the legislators have clearly decided it is time to dust the profession down and bring out a shiny new model for us to hop aboard and take a journey (for some) into the unknown.

But what do all these changes mean in practice, and is there any theme running through them?

Fee regime

Only a month ago we were singing the praises of the CVA and calling them the saviour of the high street following the creditors’ approval of the BHS CVA. (See our earlier blog Move over Mary Portas, CVA’s are the real saviour of the High Street).

The Companies Court has set out the requirements necessary to serve out of the jurisdiction under the Practice Direction on Insolvency Proceedings.

Key points

Lenders and proposed administrators should ensure that permission is in place where permission of prior charge holders is required for the grant of new security.

The facts

Key points

Creditors petitioning for bankruptcy must carefully consider offers to settle debts and make a reasonable decision based on the circumstances.

The facts

A bankrupt sought permission to appeal his bankruptcy order on the basis that the Deputy District Judge incorrectly held that the petitioning creditor did not act unreasonably in rejecting the bankrupt’s offer to compound the debt and, therefore, ought to have dismissed the petition pursuant to Section 271(3) of the Insolvency Act 1986.

The decision

The Copenhagen Reinsurance Company (CopRe) asked the UK High Court to make an Order sanctioning the intra-group transfer of the whole of its (re)insurance business to the Marlon Insurance Company (Marlon). Each of CopRe and Marlon wrote US excess and surplus lines insurance, and each of them maintained an excess and surplus lines trust fund in New York. The purpose of the transfer was to simplify the structure of the Enstar group. If the transfer was sanctioned, CopRe would be dissolved without winding up.

Key points

Rights under s23, s24 and s31 of the Matrimonial Causes Act 1973 (the “Act”) can only be pursued by the spouses themselves. Consequently, any ongoing action brought pursuant to those sections of the Act does not vest in the trustee in bankruptcy on appointment.

The facts

Key points

Challenging the transfer of assets through ancillary proceedings as transactions at an undervalue remains challenging.

The facts

This case centred around a property in Coventry originally owned and developed by a Mr Singh. After failing to pay his builders a substantial amount, on which he was subsequently bankrupted, Mr Singh charged the property to his father and then his sister-in-law.