| 1 | Insolvent contractor: sub-contractor claims The High Court has held that a sub-contractor was not able to claim payment direct from a customer after the main contractor became insolvent. | Articles | 01-May-2013 |
| 2 | Credit institutions: foreign insolvency proceedings The Supreme Court has held that H, a Scottish bank in administration, was entitled to set off its claim in its administration against its Icelandic parent bank (L) against L’s reciprocal claims against H, despite the fact that H’s claim had been extinguished as a matter of Icelandic law. | Articles | 27-Mar-2013 |
| 3 | The Insolvency Service: BIS committee report The Business, Innovation & Skills Committee has published a report following an 18-month inquiry into the operation of the Insolvency Service. | Articles | 27-Mar-2013 |
| 4 | Validity of winding-up petition The Privy Council has held that a winding-up petition was not an abuse of process, even though the petitioning creditor, who was also a claimant in litigation against the company, would obtain an additional benefit from a winding-up order in his capacity as claimant. | Articles | 27-Mar-2013 |
| 5 | Voluntary liquidation: valuing contingent debts The Court of Appeal has held that a liquidator must place a value on a contingent claim proved in a voluntary liquidation, even if the company is solvent and the effect of valuing the claim may be to prevent the creditor from receiving payment in full. | Articles | 27-Mar-2013 |
| 6 | EU Insolvency Regulation: secondary proceedings The European Court of Justice has provided guidance on the interpretation of the EU Regulation on Insolvency Proceedings (1346/2000/EC) in relation to the opening of secondary proceedings. | Articles | 27-Feb-2013 |
| 7 | Solicitors' conflict of interest The Outer House of the Court of Session has held that a firm of solicitors had both a potential and actual conflict of interest in acting for both the liquidator of a company and the petitioning creditor. | Articles | 30-Jan-2013 |
| 8 | Investment bank special administration The High Court has held that the special administration regime for investment banks is not analogous to liquidation for the purposes of an insolvency event of default in the standard form global master repurchase agreement used by the Bond Market Association and the International Securities Market Association. | Articles | 28-Nov-2012 |
| 9 | Administration: provable debts and extra-territorial moratorium The High Court has held that the moratorium on proceedings against companies in administration has extra-territorial effect when the entity in administration is a UK credit institution subject to the Credit Institutions (Reorganisation and Winding Up) Regulations 2004 (SI 2004/1045) and the Financial Undertakings Act No 161/2002 in Iceland. | Articles | 30-Aug-2012 |
| 10 | FSDs and insolvency: Pensions Regulator statement The Pensions Regulator has published a statement setting out its approach to issuing financial support directions in insolvency situations. | Articles | 30-Aug-2012 |
| 11 | EU Insolvency Regulation: opening insolvency proceedings The High Court has held that a German court order that resulted in only a partial divestment of a debtor’s assets would be recognised and effective in the UK under the EU Regulation on Insolvency Proceedings (1346/2000/EC). | Articles | 26-Jul-2012 |
| 12 | Litigation funding reforms The government has announced that its abolition of the ability to recover success fees and insurance premiums by way of a court order on costs under the Legal Aid, Sentencing and Punishment of Offenders Act 2012 will not apply to insolvency proceedings until 2015. | Articles | 26-Jul-2012 |
| 13 | Restructuring listed companies: pointers for the premium ... The second of a two-part series examines some of the issues to be considered under the Listing Rules and Disclosure and Transparency Rules when premium-listed companies are seeking to undertake a restructuring. | Articles | 28-Jun-2012 |
| 14 | EU regulations on jurisdiction The European Court of Justice has held that proceedings based on a cause of action assigned to a claimant by a liquidator do not constitute insolvency proceedings within the scope of the insolvency exception of the Brussels Regulation (44/2001/EC). | Articles | 31-May-2012 |
| 15 | Restructuring listed companies: tools of the trade The first of a two-part series examines some of the common tools used for, and issues that arise when, restructuring premium-listed companies. | Articles | 31-May-2012 |
| 16 | Italian real estate funds - the liquidation wave This Law Firm Publication by Freshfields Bruckhaus Deringer provides a background and comment on the surge of Italian real estate funds reserved to qualified investors that have been placed into liquidation in 2011/2012. Approximately sixty non-institutional funds were put into liquidation in 2011 causing significant implications for the Italian market. | Articles | 17-May-2012 |
| 17 | Trustee's power to amend bond payment terms The High Court has held that a bond trustee could amend the trust deeds for 25 related issues of bonds to provide that all of the bondholders be paid pari passu as a single group, using the trustee’s power to make non-materially prejudicial modifications to the terms. | Articles | 02-May-2012 |
| 18 | Practice direction: insolvency proceedings A new practice direction on insolvency proceedings has come into force, replacing all previous practice directions, practice statements and practice notes relating to insolvency proceedings. | Articles | 29-Mar-2012 |
| 19 | New Statement of Insolvency Practice 9 A new version of Statement of Insolvency Practice 9 on remuneration and expenses of insolvency officeholders came into effect on 1 November 2011. | Articles | 01-Dec-2011 |
| 20 | Credit institutions: foreign insolvency proceedings The Inner House of the Court of Session has held that the Scottish courts could, in the context of the administration of a Scottish bank, take the bank’s claim against its Icelandic parent bank into account when applying insolvency set off, even though the Scottish bank’s claim was invalid under Icelandic law. | Articles | 27-Oct-2011 |
| 21 | Insolvency and pension deficits: FSDs take priority The Court of Appeal has upheld the High Court’s ruling that the costs of complying with financial support directions should qualify as “super priority” administration expenses. This means that the FSD costs should be payable in priority to unsecured creditors, floating charge holders and the administrators’ own remuneration. | Articles | 27-Oct-2011 |
| 22 | Shadow directors: keeping on the sidelines Margaret Kemp and Zoey Handforth of Hogan Lovells discuss the law and practice relating to shadow directors and the risk that a lender or other major secured creditor may be treated as a shadow director. | Articles | 01-Sep-2011 |
| 23 | Scheme of arrangement: Re Uniq plc The High Court has approved a scheme of arrangement involving financial assistance as part of a restructuring to resolve financial difficulties in a group, and considered, among other things, an error in a special resolution and whether there was a sufficient turnout of members to vote on the scheme. | Articles | 30-Jun-2011 |
| 24 | Revised Statements of Insolvency Practice New Statements of Insolvency Practice 1, 2 and 7 have come into effect, and the existing SIP 1 has been renumbered as SIP 17. | Articles | 26-May-2011 |
| 25 | SPVs in restructurings: two examples There has been a notable trend in recent months of special purpose vehicles playing an integral role in corporate restructurings, illustrated by the recent high-profile restructurings of Cattles Limited and Uniq Plc. | Articles | 26-May-2011 |
| 26 | Credit institutions: winding up The High Court has construed the meaning of winding-up proceedings under the Reorganisation and Winding Up of Credit Institutions Directive and has determined, in respect of proceedings commenced in England in July 2010, that Kaupthing Bank HF only went into Directive-compliant winding-up proceedings in Iceland in November 2010. | Articles | 28-Apr-2011 |
| 27 | Liquidation: compromise of litigation The Court of Appeal has permitted a liquidator to settle litigation, despite not obtaining the agreement of all creditors to the compromise. | Articles | 25-Mar-2011 |
| 28 | Liquidation distributions: no foreign expenses The High Court has held that there was no legal basis on which a company’s liquidators could be required to use its UK assets to discharge claims that, though unsecured in the UK liquidation, ranked as priority expenses in the company’s foreign main proceedings. | Articles | 24-Feb-2011 |
| 29 | FSDs in insolvency: the Lehman/Nortel ruling In December 2010, the High Court handed down an important judgment in joint proceedings brought by the Lehman Brothers and Nortel administrators and relating to the Pensions Regulator’s power to issue financial support directions against companies after they have entered into insolvency. It would be fair to say that the decision has caused some ripples in both pensions and insolvency circles. | Articles | 26-Jan-2011 |
| 30 | Revised SIPs 7 and 9 The Institute of Chartered Accountants in England and Wales is consulting on revised forms of Statements of Insolvency Practice 7 and 9. | Articles | 27-Oct-2010 |
| 31 | Floating charges and financial collateral arrangements The High Court has held that a charge characterised as a floating charge under English law will only qualify as a floating charge to which the Financial Collateral (No. 2) Regulations 2003 (SI 2003/3226) apply if "legal control" of the underlying collateral is transferred to the chargee. | Articles | 02-Sep-2010 |
| 32 | Insolvency practitioners: regime reform proposals The Office of Fair Trading has published the results of its study of the market system in which insolvency practitioners operate, and recommended certain reforms. | Articles | 28-Jul-2010 |
| 33 | Rescission of winding up orders The High Court has applied the Civil Procedure Rules to decide whether to allow an application to rescind a winding up order to proceed, although it was made out of time. | Articles | 28-Jul-2010 |
| 34 | Administration and liquidation: provable debts The High Court has held that certain statutory employment claims of employees against their employer were provable as contingent debts in the employer’s administration, although the claims had not yet been decided by an employment tribunal. | Articles | 26-May-2010 |
| 35 | Insolvency Rules 1986: amendments The Insolvency (Amendment) Rules 2010 (SI 2010/686) and the Legislative Reform (Insolvency) (Miscellaneous Provisions) Order 2010 (SI 2010/18) have come into force. | Articles | 28-Apr-2010 |
| 36 | Administration: meaning of "winding up" The High Court has held that a reference in a bond document to a “winding up” must have been intended by the parties to the document to include a distribution by administrators to unsecured creditors under paragraph 65(3) of Schedule B1 to the Insolvency Act 1986. | Articles | 24-Mar-2010 |
| 37 | Non-competition clauses: trust deeds and guarantees The High Court has held that the terms of a trust deed and guarantee did not exclude the rule that a person who is entitled to a distribution from a fund, and who is also in debt to the fund, must contribute to the fund before he can receive money from it. | Articles | 24-Feb-2010 |
| 38 | Winding up order: disputed debt The High Court has held that it was appropriate to make a winding up order in respect of a company, despite a dispute about whether the debt on which the winding up petition was based was due from the company to the petitioning creditor. | Articles | 24-Feb-2010 |
| 39 | Insolvency set-off rule: High Court decision The High Court has considered the effect of rule 4.90 of the Insolvency Rules 1986. | Articles | 27-Jan-2010 |
| 40 | Administrators refused disclosure order The High Court has held that the administrators of an insolvent company were not entitled to an order under section 236 of the Insolvency Act 1986 compelling a third party to disclose information. | Articles | 26-Nov-2009 |
| 41 | Preference claims The High Court has held that, where a person is a director and guarantor of both an insolvent subsidiary and its parent company, the question of whether he benefited from any preferential payments should be considered solely in relation to his capacity as guarantor of the insolvent company, not in any other capacity. | Articles | 26-Nov-2009 |
| 42 | Liquidator's litigation settlement The High Court has held that, when sanctioning a liquidator’s settlement of litigation by the insolvent company against a former director, it should give greater weight to the views of the liquidator than to the views of the dissenting creditors. | Articles | 28-Oct-2009 |
| 43 | Recovery of trading loss The High Court has held that a trading loss was, in principle, capable of being a loss to the insolvent company recoverable under section 212 of the Insolvency Act 1986. | Articles | 28-Oct-2009 |
| 44 | Anti-deprivation principle The High Court has held that a conditional priority clause in a structured finance transaction did not breach the anti-deprivation principle and was not void. | Articles | 01-Oct-2009 |
| 45 | Foreign liquidators: asset realisations The High Court has held that it has a common law power to order payment of English asset realisations to foreign liquidators if the foreign insolvency regime provides for a pari passu distribution of such realisations to creditors. | Articles | 01-Oct-2009 |
| 46 | Application of the FSA's client money rules in light of the ... In this article, Patrick Buckingham, a partner in Herbert Smith's Financial Services Regulatory Group, and Sophia Reeves, an associate in the same group, consider the implications of the decision of the High Court in Re Global Trader Europe Limited (In Liquidation) [2009] EWHC 602 (CH) regarding the application of the FSA's client money rules. | Articles | 07-Sep-2009 |
| 47 | Section 110 liquidation schemes: a viable restructuring option An overview of demergers under section 110 of the Insolvency Act 1986. | Articles | 23-Apr-2009 |
| 48 | Hedge funds: can investors recover their losses? After the meteoric rise, hedge funds are now feeling the pinch and liquidations are likely to be a prominent feature of litigation here, in the US and offshore. Market commentators are predicting a substantial contraction of funds under management over the next 12 months. This is beginning to generate a large number of disputes against service providers and other third parties, as well as internal disputes between investors. | Articles | 25-Nov-2008 |
| 49 | Liquidation expenses The High Court has held that liquidators are not entitled to any payments out of floating charge realisations held by administrative receivers in respect of future liquidation expenditure and expenses. | Articles: other | 22-Aug-2002 |
| 50 | Falling apart? Rescue mechanisms and insolvency A consideration of the main UK rescue mechanisms and insolvency processes available to companies trading on the brink of insolvency. | Articles | 21-Jan-2002 |