Litigation Notes

Key Supreme Court insolvency ruling clarifies stance on creditor duties

Court of Appeal rules foreign receiver cannot deal with English property due to the "immoveables rule"

The Court of Appeal has confirmed that the High Court was right to restrict the assistance an English court could give to a Russian trustee in bankruptcy …

High Court refuses to stay proceedings against English domiciled defendant in light of pending Ukrainian insolvency proceedings

The High Court has rejected a challenge to its jurisdiction brought by a defendant who was found to be domiciled in England, and who was also a party to …

Witness immunity rule did not apply to examination conducted under s.236 of the Insolvency Act 1986

The High Court has held that an examination conducted pursuant to an order made under s.236 of the Insolvency Act 1986 ("IA") did not attract witness …

Part 26A restructuring plans – most significant change in 20 years

The court ruling yesterday in Re Virgin Active Holdings Limited [2021] EWHC 1246 has paved the way for restructuring plans under Part 26A to the …

Impact of Brexit on applicable law in cross-border insolvencies

From 31 December 2020, the European Regulation on Insolvency Proceedings (the “EIR”) ceased to apply in the UK. As a result: The EIR provides the rules …

High Court refuses to strike out claim for relief under section 423 of the Insolvency Act 1986 despite lack of connecting factors between the defendant and the jurisdiction

The High Court has dismissed a strike out application in respect of a claim brought under section 423 of the Insolvency Act 1986 (“IA 1986”) in respect …

New series of webcasts on the Corporate Insolvency and Governance Act 2020

The new Corporate Insolvency and Governance Act 2020, which came into effect on 26 June 2020, could have a significant impact on companies in distress …

High Court holds s.236(3) of the Insolvency Act 1986 does not have extra-territorial effect, except where the EU Insolvency Regulation applies

The High Court has held that s.236 of the Insolvency Act 1986 (“IA 1986”) does not have extra-territorial effect, so that the court is not generally …

Proposed insolvency reforms: Impact on supply chains and their customers

As previously noted, the new Corporate Insolvency and Governance Bill, currently expected to be enacted in mid-June 2020, is likely …

Corporate Insolvency and Governance Bill – major insolvency reforms proposed

The Government on 20 May 2020 published the Corporate Insolvency and Governance Bill, which contains the most far-reaching reforms to UK insolvency law …

High Court affirms orthodox application of directors’ no conflict duty in insolvency

The High Court has ruled that directors breached their duties by taking up the company’s business opportunity for their own benefit, even if the company …