In the case of JDK Construction Limited the Court of Appeal had to consider whether an earlier decision by a High Court judge that liquidators had been validly appointed was correct.
The answer to that question turned on whether the
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Reflections on The UK Pensions Regulator’s (TPR) Powers that could see Insolvency Practitioners facing £1million fines
There is a tension between UK insolvency and pensions laws. Put simply, this is because insolvency laws look to protect all of the company’s creditors, but pension laws seek to protect the interests of the pension creditors alone.
When new
(UK) Should we all be a bit more relaxed about procedural hiccups in notices appointing administrators?
As practitioners we pour over notices of intention to appoint (NOIA) and notices of appointment of administrators (NOA) to make sure every detail is accurate. Why? Because no one wants to risk an invalid appointment because there was a minor
Bankruptcy Court Applies First-of-Its-Kind Valuation Method to Estimate Cryptocurrency Claims (US)
The bankruptcy court presiding over the FTX Trading bankruptcy last month issued a memorandum opinion addressing valuation of cryptocurrency-based claims and how to “calculate a reasonable discount to be applied to the Petition Date market price” for certain cryptocurrency tokens.
(UK) What is misfeasance trading? What does this mean for directors and their advisors?
For those that are that way inclined (which includes us at #SPBRestructuring!), the 500 plus page Wright v Chappell judgment which sets out the BHS wrongful trading claim against its former directors makes for an interesting read. It paints a
“Should Have Known Better” – Bankruptcy Court Denies Relief to File Late Claims Despite Litigation Having Commenced After Bar Date (US)
File your proof of claim before the bar date. That’s a principle every creditor in a bankruptcy case should adhere by. But on June 7, 2024, the United States Bankruptcy Court for the Southern District of New York may have
In Purdue Pharma, the Supreme Court Fires a Canon of Construction Through Non-Consensual Third-Party Releases (US)
On June 27, 2024, the Supreme Court ruled in a 5-4 decision that a bankruptcy court does not have the statutory authority to discharge creditors’ claims against a non-debtor without the creditors’ consent (except in asbestos cases). The decision in
(UK) The Court Considers the Question of Whether Secured Creditor Consent is Required to an Administration Extension Again. “Too Good” to be True?
No, it isn’t. We now have two cases where the Court has confirmed that insolvency practitioners do not need the consent of paid secured creditors when extending an administration under para. 78 of Schedule B1 of the Insolvency Act 1986
A Committee May Survive Dismissal of a Debtor’s Chapter 11 Case (US)
This author—whose practice is heavily weighted toward representation of official committees in large chapter 11 cases—has previously penned articles relating to questions surrounding the permanency of an official committee.
First, in an article entitled Does a Bankruptcy Court Have Authority