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This month's highlights include analysis on the first reported case to consider who bears the costs of an unsuccessful appeal of a bankruptcy order, and an article looking at litigation funding from an insolvency practitioner's perspective. Plus various other reported case decisions and analyses, and other news affecting the day-to-day work of restructuring and insolvency professionals.
Who bears the costs of an unsuccessful appeal of a bankruptcy order?
How will the costs judgment in Cooke v Dunbar Assets Plc shape the laws around bankruptcy orders? Faith Julian of 9 Stone Buildings explores the judgment, which is the first case to consider the issue of costs on an appeal against a bankruptcy order, and looks at the impact it may have on future disputes.
For further reading, see blog post: Who bears the cost of an unsuccessful appeal of a bankruptcy order? (Cooke v Dunbar Assets plc).
Learning from the collapse of BHS
Following publication of the Work and Pensions and Business, Innovation and Skills Committees’ report on the collapse of British Home Stores, Ian Defty, insolvency practitioner at DDJ Insolvency Limited, considers what lessons can be learnt.
For further reading, see blog post: Learning from the collapse of BHS.
Litigation Funding—an Insolvency Practitioner's perspective
Michael Leeds, director, and Nick Wood, partner, of the Fraud Insolvency Division (FInD) of Grant Thornton UK LLP discuss some of the issues insolvency practitioners consider when contemplating the use of funding.
For further reading, see blog post: Litigation Funding—an Insolvency Practitioner’s perspective.
Role of the Parliamentary Select Committees and BHS
The collapse of nationwide clothing retailer BHS has prompted much concern about many issues ranging from pension fund deficits to abuse of limited liability laws. Owing to the complexity and scale of the problem, the Parliamentary Select Committee called on expert advice from barristers at South Square. Hannah Thornley explains the role of the South Square team, giving insight as to why their input was called on, and whether or not we might see more of such arrangements in future.
For further reading, see blog post: Role of the Parliamentary Select Committees and BHS.
How to run a wrongful trading case
Discussing the judgment in Re Ralls Builders Ltd (No 2), Christopher Boardman, a barrister at Radcliffe Chambers, says the case is an illuminating example of the problems and diff
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Stephen qualified as a solicitor in 2005 and joined the Restructuring and Insolvency team at Lexis®PSL in September 2014 from Shoosmiths LLP, where he was a senior associate in the restructuring and insolvency team.
Primarily focused on contentious and advisory corporate and personal insolvency work, Stephen’s experience includes acting for office-holders on a wide range of issues, including appointments, investigations and the recovery and realisation of assets (including antecedent transaction claims), and for creditors in respect of the impact on them of the insolvency of debtors and counterparties.
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