The Employment Appeal Tribunal (“EAT”), in the case of Secretary of State for Business, Innovation and Skills v McDonagh, has had to consider what the “appropriate date” is for the purposes of employees claiming arrears of salary and holiday pay from the National Insurance Fund, in circumstances where a voluntary insolvency procedure is followed by a compulsory insolvency procedure.

The Court of Appeal has unanimously upheld an order refusing to strike out a claim by a “one-man” company in liquidation, which had been the vehicle for a VAT fraud, against its former directors and overseas suppliers alleged to have been involved in the fraud.

High Court holds that reports used by the Serious Fraud Office to obtain search and arrest warrants are not subject to litigation privilege in subsequent civil proceedings.

The High Court has sanctioned a scheme of arrangement between a Vietnamese company and certain of its creditors; the first time a Vietnamese company has taken advantage of this restructuring process in England.

Background

The latest Court judgment arising from the MF Global UK Ltd ("MF Global") insolvency provides further clarity on how client money entitlements under the FCA's client money rules ("CASS") should be assessed, but is potentially superseded by a key proposal in the FCA's July 2013 Consultation Paper.  In MF Global UK Ltd (No 4) (in special administration); Heis and others v Attestor Value Master Fund LP and another [2013] EWHC 2556 the Court was asked to determine to what extent, an

The Court of Session has reiterated that balancing of accounts in bankruptcy may be relied upon by a defender in enforcement proceedings to successfully resist enforcement of an adjudicator's award. See Richard Heis & others as joint administrators of Connaught Partnerships Ltd (in administration) v. Perth & Kinross Council.

The recent decision of Re Bluecrest Mercantile BV saw the High Court stay proceedings for summary judgment in respect of contract debts to allow the formulation of proposals for a scheme of arrangement - is this likely to be become common practice, or is it a one-off?

The background

The Court of Appeal’s decision in the matters of Nortel GMBH and Lehman Brothers International (Europe) (both in administration) and other companies has been overturned by the Supreme Court. Liabilities imposed on insolvent companies by the Pensions Regulator (“tPR”) will not be treated as an expense of the insolvency, which would be payable by the office holder in advance of making payment of his own remuneration or to floating charge holders. The liability will rank as an unsecured debt rateably with all other unsecured creditors.

The balance sheet test for insolvency under section 123(2) of the UK Insolvency Act requires the court to make a judgment whether it has been established that, looking at the company's assets and making proper

The insolvency of one or other of the parties to a dispute has become commonplace in recent times, particularly in construction related disputes. Practitioners are becoming increasingly knowledgeable about the implications of insolvency on procedure and the potential remedies available.