Moratorium bankruptcies and no seizure of salary, car and family home

You may wonder why there are relatively few bankruptcies, even though last year was dominated by the corona crisis with considerable economic repercussions. After the first moratorium, which ran until June 2020, it has become apparent that, even without a moratorium, various parties are in fact taking account of the current economic difficulties faced by […]

Laurie PeerPartner, STUDIO | LEGALE

Gray v Global Energy Horizons Corporation [2020] EWCA Civ 1668

Lasting six days, Gray v Global Energy Horizons Corporation [2020] EWCA Civ 1668 was an unusually long and complex appeal which did not fare well before David Richards, Henderson and Rose LJJ. The judgment itself runs to 495 paragraphs. The underlying litigation lasted nine years and involved three trials in which, in essence, Global Energy claimed that […]

Frances CoulsonSenior & Managing Partner, Head of Litigation & Insolvency, Moon Beever

Change of Carriage

Change of carriage of a bankruptcy petition has always been a tricky area, as Hood v JD Classics Ltd (In Administration) [2020] EWHC 3232 (Ch) demonstrates, which may be a reason why it is rarely used. In this case Michael Green J allowed an appeal from a decision of Deputy ICC Judge Jones granting change […]

Frances CoulsonSenior & Managing Partner, Head of Litigation & Insolvency, Moon Beever

Frances Coulson participates in the IR Global Insolvency Virtual Series – Insolvency & Restructuring: How the global pandemic changed the rules on insolvency

Foreward by Andrew Chilvers Insolvency and restructuring legislation changed radically in all jurisdictions in the wake of COVID-19. While governments have tried to delay the number of insolvencies in the short term, most experts agree that distressed businesses will start to fail significantly later this year and into 2021. For insolvency practitioners and lawyers alike, […]

Frances CoulsonSenior & Managing Partner, Head of Litigation & Insolvency, Moon Beever

Core-Restoration and Appointment of Liquidators Under s108 IA86

Core VCT plc, Core VCT IV plc and Core VCT V plc were investment companies. The investments were managed by Core Capital LLP and later by Core Capital Partners LLP. A Mr Fakhry and a Mr Edwards were partners in the LLPs. On 16 April 2015 the companies went into members’ voluntary liquidation. They were […]

Frances CoulsonSenior & Managing Partner, Head of Litigation & Insolvency, Moon Beever

Holding the court to ransom -Administration and Practice

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 […]

Frances CoulsonSenior & Managing Partner, Head of Litigation & Insolvency, Moon Beever

Insolvency Seminar

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 & […]

Frances CoulsonSenior & Managing Partner, Head of Litigation & Insolvency, Moon Beever

Sevilleja v Marex Reflective Loss – A claim by a company’s creditor against a third party was not barred

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 […]

Frances CoulsonSenior & Managing Partner, Head of Litigation & Insolvency, Moon Beever

STUDIO | LEGALE joins IR as the exclusive Debt & Asset Recovery Member in Belgium

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 […]

Laurie PeerPartner, STUDIO | LEGALE

Fine is a Provable Debt in Company Liquidation

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 […]

Frances CoulsonSenior & Managing Partner, Head of Litigation & Insolvency, Moon Beever

CGL Realisations Ltd [2020] EWHC 1707 (Ch)

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, […]

Frances CoulsonSenior & Managing Partner, Head of Litigation & Insolvency, Moon Beever