Lexis®PSL Restructuring and Insolvency monthly highlights—November 2016

November 2016 highlights from the Lexis®PSL Restructuring and Insolvency team. This month’s highlights include an article on the new EU rules to harmonise restructuring processes across member states, analyses of cases Goldstein v Bishop and Avonwick Holdings Ltd v Shlosberg, together with a round up of other restructuring and insolvency news and cases.

These November Monthly Highlights are a shortened version of the monthly highlights that first appeared on LexisPSL Restructuring and Insolvency. Not a subscriber? Find out more about how LexisPSL can help you and click here for a free trial of LexisPSL Restructuring and Insolvency

Headlines (News updates & analysis)

New EU rules for ‘more effective and efficient insolvency procedures’

The European Commission is to introduce rules on business insolvency designed to increase opportunities for companies in financial difficulties to restructure early to prevent bankruptcy and avoid dismissing staff. They are further designed to ensure entrepreneurs have the opportunity to do business post-bankruptcy. We look at the new proposed EU Directive and how it will harmonise restructuring, insolvency and discharge procedures across all member states, including its potential effect on the UK—see News Analysis: Draft EU Directive proposed harmonising restructuring and insolvency.

IVAs and the importance of disclosure

Golstein v Bishop [2016] EWHC 2804 (Ch)

Richard Ascroft, barrister at Guildhall Chambers, says that Golstein v Bishop underlines the importance of ensuring disclosure of all matters potentially relevant to an assessment by creditors of proposals for an individual voluntary arrangement—see News Analysis: IVAs and the importance of disclosure (Golstein v Bishop).

Preserving a bankrupt’s rights of privilege

Avonwick Holdings Ltd and others v Shlosberg [2016] EWCA Civ 1138, [2016] All ER (D) 141 (Nov)

Does legal professional privilege attaching to information and documents of a bankrupt devolve to his trustee in bankruptcy? James Mather, Barrister at Serle Court,