On 3 September 2020, at 11.56 pm following an urgent telephone hearing, Fancourt J made an order appointing administrators over nine companies. On 8 December he gave judgment setting out his reasons for doing so (Re Nationwide Accident Repair Services Ltd & Ors [2020] EWHC 2420 (Ch)). His reasons were conventional. He found each of the […]
For Insolvency Professionals CPD accredited –Ref 856-MOBE – 1.5 hours 1st September 2020 When: 3.45pm – Registration, 4.00pm – Presentations/discussion to 6pm – Drinks (sorry bring your own!) and networking as long as guests stay afterwards Where: Your Home Office We are hopeful that some experience and more detail around the workings of the Corporate Insolvency & […]
The principle of reflective loss is generally regarded as having been established in the case of Prudential Assurance Co Ltd v Newman Industries Ltd (No 2) [1982] Ch 204. Reflective loss is the loss suffered by a shareholder as a result of a breach of duty owed to the company and breach of a duty owed to […]
IR Global, the world’s largest exclusive network of advisory firms is delighted to introduce Laurie Peer of STUDIO | LEGALE. Laurie has joined IR as our exclusive Debt & Asset Recovery member in Belgium. STUDIO|LEGALE is a young (°2009) and dynamic law firm with a single objective: to assist you quickly and pragmatically in your legal […]
Re Paperback Collection & Recycling Ltd [2020] EWHC 1601 (Ch) Paperback Collection & Recycling Limited (the company) was in the recycling business carrying on business in Wales. Its regulator for waste activities was Natural Resources Wales (NRW), the respondent to the application. NRW commenced criminal proceedings against the company (and its directors) for offences relating […]
Re CGL Realisations Ltd [2020] EWHC 1707 (Ch), a recent judgment of deputy ICC judge Agnello, concerned a single issue, namely whether at the relevant time for the purposes of section 240(1)(a) Insolvency Act 1986, CGL Realisations Ltd (“Comet”) was connected (within the meaning of section 425 Insolvency Act 1986) to the respondent, Darty Holdings SAS, […]
Re North Point Global Ltd [2020] EWHC 1648 (Ch) (26 June 2020) is an example of the court adopting a principled approach to an apparent lacuna in our insolvency legislation to produce what we suggest most people will regard as a just and pragmatic result. In 2017 North Point Global Limited entered into a company […]
Curr v London & Country Mortgages [2020] EWHC 1661 (QB), a judgment of Andrews J, is the classic case of a former bankrupt pursuing vexatiously litigation that was not his to pursue. Mr Curr had been employed by London & County Mortgages. On 8 December 2017 (less than 3 months into his probation period) he had […]
Davidison v Finnan & Ors [2020] EWHC 1607 may not seem to be of great interest on an initial reading. The application before the deputy judge, Hugh Sims QC, was made by one of several respondents to a liquidator’s misfeasance claim. By his application he sought reverse summary judgment against the liquidator, asking for the misfeasance […]
This judgment is the latest contribution to what is likely to become a growing body of law on insolvency in a time of plague (or at least Covid-19). In this case a winding up petition was presented on 1 May 2020 following service on 27 March 2020 of a statutory demand claiming £160,697 in respect […]
Colt Technology Services v SG Global Group SRL [2020] EWHC 1417 (Ch) was an application by Colt Technology Services, a UK telecommunications company, for an injunction to restrain SG Global Group SRL, an Italian company, from presenting a winding-up petition. In 2016, Colt UK and SGG had entered into a “bilateral voice over internet protocol […]
Wolloff & Short (Liquidators of Akkurate Limited v Calzaturificio Rodolfo Zengarini SRL & Anor [2020] EWHC 1433 (Ch) “These applications raise the question of whether the court has the power under section 236(3) of the Insolvency Act 1986…to require persons resident in the EU to produce books and papers and an account of their dealings […]