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In Brooks & Anor v Armstrong, joint liquidators applied for orders against directors of the insolvent company under section 214 of the Insolvency Act 1986.
In Stevensdrake Ltd v Hunt & Ors the liquidator of Sunbow Ltd, Mr Hunt, had brought a claim against Sunbow’s former administrators.
Real estate: overvaluation and loss download
Limitation in negligent overvaluation claims brought by banks.
This article compares Germany as a typical civil code jurisdiction and England/Wales as a typical common law jurisdiction.
Also: spouses’ rights, and the meaning of ’acting by the receivers’.
Changes to insolvency rules download
Principal insolvency-related changes introduced by the Small Business, Enterprise and Employment Act 2015 (the Act).
Some 10 years after having received advice from the defendant the claimant learned that the advice had been negligent and had caused him loss.
Among the questions answered is: I would like to enforce a money judgment by taking control of goods. Are there any practical points of which I should be aware?
It is comforting to solicitors and their insurers that indemnity policies will not be seen as an easy target to cushion clients’ bad business decisions.
Case shows that courts are reluctant to imply terms into contracts that have been freely negotiated between sophisticated parties...
No need to aggregate redundancies.
New insolvency rules on hold download
The introduction of the new insolvency rules is now likely to be delayed until 2016.
If a winding up petition is made to court, any disposition of the company’s property, transfer of shares or alteration in the status of the company’s members is void, if not validated by the court.
What is the effect of liquidation/bankruptcy and dissolution on the ability of a fixed-charge receiver to exercise the powers usually given to a receiver under the LPA or mortgage deed?
Limit on landlords' remedies download
Currently, where a tenant is in arrears of rent totalling £750 or more, a landlord is entitled to serve a statutory demand for payment.
Equity of exoneration — joint mortgagors do not necessarily have joint responsibility for the secured debt download
It is a not uncommon situation — the family home is jointly mortgaged to secure the debts of a family member’s business.
When considered practically, the logical approach would be that a property is worth however much people are prepared to pay for it.
A director of a company who has breached his fiduciary duties as a director could not then, in his capacity as the company’s sole shareholder, ratify the breach where the company was insolvent.
The CMA is to make a ‘Phase 2’ market investigation reference in relation to the supply of retail banking services to personal current account customers and SMEs.
The Pensions Regulator has finally reached a compromise in respect of the Financial Support Directions it issued in connection with the Lehman Brothers pension scheme.