High Court considers “test case” of Wall v Royal Bank of Scotland [2016] EWHC 2460 (Comm)

The claims

The Claimant, Mr Wall (W), brought claims against the Defendant, Royal Bank of Scotland Group (RBS), in relation to RBS’s dealings with a now insolvent group of companies owned and controlled by W. W brought the claims in his capacity as assignee of the group’s rights and/or as beneficiary of a trust as declared by the group’s liquidators.

Facts

Angove’s PTY Ltd (‘Angove’s’) is an Australian winemaker which for many years had employed D&D Wines International Ltd (‘D&D’) to distribute its products to retailers. In addition, D&D also purchased wine for itself direct from Angove’s. Their business relationship was governed by an Agency and Distribution Agreement (‘ADA’) entered in December 2011. Amongst its provisions, the ADA entitled the parties to terminate the agreement with immediate effect upon either becoming insolvent.

Facts

Mr Patel transferred Mr Mirza £620,000 to bet on shares in RBS using insider information which Mr Mirza hoped to obtain from RBS contacts. The inside information did not come through and Mr Mirza refused to return the sums to Mr Patel. Mr Patel subsequently sued Mr Mirza for recovery of the £620,000 on the
basis of unjust enrichment. 

Facts

This case related to the leasehold ownership of hotel rooms. The applicants were the leaseholders of the hotel rooms and the respondent companies the lessors.

Facts

C’s appeal of his bankruptcy order failed. He then argued that pursuant to r 12.2(1) of the Insolvency Rules 1986 (‘IR 12.2’) as a matter of law the costs of the unsuccessful appeal should be treated as an expense of the bankruptcy estate; alternatively they were aprovable debt in the bankruptcy. D (the PC) contended that IR 7.51A gave the court an unfettered discretion as to the form of order and sought costs against C personally as a post-bankruptcy liability.

The English courts have been careful to control the circumstances in which a constructive trust will be declared.

Introduction

A director who breaches the obligations and duties imposed on him by his office may be liable to compensate the company for breach of duty, may incur personal liability for the company’s debts, may also face criminal or civil penalties and may be disqualified from acting as a director. The position of the company director has never been the subject of more scrutiny than it is today.

Introduction

31/10/2016 Pensions Update ­ October 2016 http://bakerxchange.com/rv/ff002b980788f142ab3974e23146b6f2e393d02b 1/4 Pensions Update October 2016 In this issue Court of Appeal clarifies treatment of pensions on bankruptcy PPF publishes consultation on 2017/2018 levy DWP consults on valuing pensions for the advice requirement Regulator declares rule change void Next steps in leaving the European Union Committee publishes new evidence on regulation of pension schemes Regulator launches blog Government cancels plans t

On 7 October 2016 Ashfords' Restructuring and Insolvency Team, led by partner Alan Bennett, assisted the directors in securing an Administration order in respect of Ronin Development Corporation (the "Company").

The Company was incorporated in Princeton, New Jersey, in October 1986 under the New Jersey Business Corporation Act, and is a global marketing, consulting and research company.