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December 2016 highlights from the Lexis®PSL Restructuring and Insolvency team. This month’s highlights include an article discussing the latest judgment in relation to the Nortel group, and an article examining the court’s decision in Fehily v Atkinson that dealt with the question of whether an individual voluntary arrangement (IVA) was binding where there was a question over the debtor’s capacity, together with a round up of other restructuring and insolvency news and cases.
These December monthly highlights are a shortened version of the monthly highlights that first appeared on Lexis®PSL Restructuring and Insolvency. Not a subscriber? Find out more about how Lexis®PSL can help you and click here for a free trial of Lexis®PSL Restructuring and Insolvency.
Re Nortel Networks UK Ltd and other companies  EWHC 2769 (Ch),  All ER (D) 205 (Jun)
A seven-year wait by the creditors of the insolvent Nortel group for allocation of its assets could be nearing its end after the Companies Court’s approval of a settlement deal. Alexander Riddiford, barrister at South Square, explains the court’s decision—see blog post: Implementing a global settlement of disputes.
ENEFI Energiahatékonysági Nyrt v Directia Generala Regionala a Finantelor Publice Brasov (DGRFP) C-212/15,  All ER (D) 110 (Nov)
How does the European Insolvency Regulation apply to cross-border insolvencies? Paul Sidle, a senior professional support lawyer at Linklaters, answers some questions on the issues that arose out of the decision in ENEFI v DGRFP—see blog post: Judicial cooperation in insolvency proceedings.
Fehily and another v Atkinson and another  EWHC 3069 (Ch),  All ER (D) 20 (Dec)
What evidence is required to be relied upon if there is an issue of capacity during the insolvency process? Richard Drinkwater, consultant at Hewlett Swanson, comments on a ruling that expert medical evidence was required and, even then, an IVA would still be binding—see blog post: Insolvency and capacity.
Re Ellison (A Bankrupt); Hicken (as Trustee in Bankruptcy of Ellison) v Ellison  EWHC 2791 (Ch),  All ER (D) 76 (Nov)
Derek Cockle, solicitor at Osmond & Osmond, assesses the practical implications of the judgment in Hicken v Ellison concerning the Chancery Division’s decision to allow a hearing to take place in the respondent’s absence in relation to the trustee
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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.
0330 161 1234