Montblanc case not unique

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Supreme Court supports disqualification under IBC, but protects interest of homebuyers

By Prateek Kumar, Sahil Narang, Raveena Rai The corporate insolvency resolution process (CIRP) against Jaiprakash Infratech Limited (JIL) commenced when the National Company Law Tribunal, Allahabad (NCLT) passed an order dated 09.08.2017 admitting the petition of IDBI Bank Limited under Section 7 of the Insolvency and Bankruptcy Code 2016 (IBC). Home buyers who had invested in […]

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Richard Millett on issues in the Bermuda Fire & Marine case. Richard Millett is a barrister at Essex Court Chambers and represented the corporate defendants.

The Bermuda Fire & Marine Insurance Company used to be the island’s oldest insurance company. In 1993, it went into provisional liquidation with what was alleged by its liquidators, Ernst & Young, to be a deficiency of $450m. Almost all of its liabilities were contingent liabilities arising from its participation, between 1968 and 1983, on […]

Clifford Chance appoints forensic accountant

Stephen Lewis, who has spent much of his time work in a consultancy role on a Clifford Chance project since he left Price Waterhouse in 1998, is a chartered accountant specialising in damages assessment and financial investigations. He says he will help the legal teams on the financial front at all stages of the litigation […]

Bar Magic Circle poised to expand

All four magic circle chambers have now either acquired new premises that could accommodate expansion or are in the market to do so. Fountain Court is looking for extra space and One Essex Court is known to be in negotiations with the Inns for further premises. Essex Court Chambers has just acquired approximately 13,000 sq […]

Technology, Media and Telecommunications

Olswang advised the majority shareholders of Microcosm Communications on its sale to Conexant Systems. The company was sold for $128m (£80m) with contingent future payments which could inflate the final sale price to $180m (£112m). Heather Wilby, corporate partner at Olswang, headed a four strong team on the deal. Osborne Clarke acted for the outside […]

Beachcrofts adds property trio in Bristol

Beachcroft Wansbroughs is doubling the number of property partners in its Bristol office by acquiring a local niche practice. The three partners from Crawford Owen will be absorbed by Beachcrofts when the firm takes it over in April. A spokesman for Beachcrofts says the move will make his firm a “new regional market leader in […]

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