In Bartenwerfer v. Buckley, the Supreme Court of the United States resolved confusion in the lower courts over the scope and application of 11 U.S.C. § 523(a)(2)(A), which prohibits debtors from discharging debt through bankruptcy when such debt was obtained as a result of fraudulent actions.
Nicola Sharp considers the recent appeal decision in Tradition Financial Services Ltd vBilta (UK) Ltd [2023] EWCA Civ, and the ways in which it affects the definition of fraudulent trading.
From investors to regulators, FTX Trading Ltd (FTX) filing for bankruptcy was unexpected by all. A catalyst for litigation and regulation over the years to come, this collapse will serve as a warning, particularly to cryptocurrency insurers.
What happened?
The U.K. government has published its much-anticipated proposals for regulating the cryptoasset industry. These proposals, currently in the form of a consultation, will see many (but not all) cryptoasset-related activities being brought within the regulatory perimeter for financial services in the U.K.
In brief
The New Criminal Code became the first piece of legislation passed into Law in 2023 and was promulgated on 2 January as Law No. 1 of 2023.
Nicola Sharp of Rahman Ravelli considers a case that shows the courts’ reluctance to expand the jurisdiction of equity to award compound interest in common law claims.
“Geoff is a savvy and commercially astute professional” “He combines his keen intellect with a practical approach to deliver the best results for his clients”
Questions & Answers
How is the function of a company’s separate personality altered by insolvency? And to what extent may that give rise to an action in civil fraud? Nicola Sharp of Rahman Ravelli outlines the situation.
Since the end of the 19th century and the decision in Salomon v A Salomon and Co Ltd [1897] AC 22, it has been settled law that a company has its own separate personality. But as company law and insolvency law have evolved, the function of the company’s separate legal personality has developed.
This Regulatory Update provides a snapshot of the key legal developments in the BVI and the Cayman Islands over the last quarter – including amendments to BVI business company fees, the introduction of the BVI Virtual Asset Service Providers Act, and an update on the list of director names which is now publicly available in the BVI. It also contains a reminder of the January 2023 filing deadlines in the Cayman Islands, amendments to the Cayman LLC legislation and details of the highest possible rating given to the Cayman Islands by OECD for effectiveness of AEOI regime.
The Ontario Fraudulent Conveyances Act1 (the FCA), a concise statute of long-standing that traces its history to an English statute of 1571, is intended to prevent conveyances of property made with the intent to defeat, hinder, delay or defraud “creditors or others” of their just and lawful actions, suits, debts, accounts, damages, penalties or forfeitures.