First published on LexisPSL Restructuring and Insolvency

Barristers Stephen Atherton QC and Charlotte Tan of 20 Essex Street review Ronelp Marine Ltd and other companies v STX Offshore & Shipbuilding Co Ltd—in which the High Court considers whether, and the circumstances where, it should lift a stay made under the Cross-Border Insolvency Regulations SI 2006/1030 to allow litigation proceedings to be continued in England by a creditor with an unsecured monetary claim.

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.

Gowling WLG's finance litigation experts bring you the latest on the cases and issues affecting the lending industry.

Uncrystallised pension pot remains protected following bankruptcy

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.