Restructuring & Insolvency monthly highlights—January 2020

Published on: 31 January 2020

Published by: LexisPSL

Restructuring & Insolvency monthly highlights—January 2020
In this issue:
Key R&I law developments
Brexit update
New chief executive of Insolvency Service appointed
Corporate insolvency processes
Date of liquidation was the effective date of accrual of the cause of action in a preference case (Re MSD Cash & Carry plc)
Out-of-court appointment of Administrators—another e-filing decision (Re Keyworker Homes (North West) Limited)
First stage of Carillion audit investigation to be finished by Summer 2020
Legacy Education Alliance International Ltd v Progression Ltd and others

More...

Personal insolvency
Setting aside a statutory demand—share sale guarantee liability (Harrling and Steen v Midgley and others)
FCA study aims to identify warning signs of financial distress
Elston v King and another
Pillmoor v Miah and another
Restructuring
To freeze or not to freeze—cryptocurrency as property? (Vorotyntseva v Money-4 Ltd)
Morley (trading as Morley Estates) v Royal Bank of Scotland plc
Insolvency litigation
Clarification of the meaning of ‘desire’ to bring about a preference (Re Paul Flatman Ltd (in creditors' voluntary liquidation) Flatman v Wiles)
Gauging the monetary value of work done by solicitors for the purposes of section 245 of the Insolvency Act 1986 (Re Peak Hotels & Resorts Ltd)
Candey Ltd v Crumpler and another (as joint liquidators of Peak Hotels and Resorts Ltd (in liquidation))
Applications open for court fee refund scheme
No partial lift of stay of execution in adjudication enforcement (Gosvenor v Aygun)
When does waiver occur? Protecting privilege in witness statements (Re Bedborough)
General duties of a director survive a company’s entry into administration or creditors' voluntary liquidation (Re Systems Building Services Group Ltd (in liquidation))
Pensions and insolvency
Pension Schemes Bill – Additional hurdle for English law restructurings?
EU pensions in insolvency proceedings—equal treatment under EU law (Re Michael Bernard McNamara)
Insurance and insolvency
Claim that surgery and insurer colluded in PIP implants settlement rejected (AB and CD v Transform Medical Group and Travelers Insurance)
R&I in Scotland
Scotland—‘Rights of relief against an insolvent company’(Re West Larkin Limited (in liquidation) (No.1)
Scotland—challenging a liquidator’s decision—the proper approach of the court (Re West Larkin Limited (in liquidation) (No 2))
New form for notice of a voluntary arrangement or moratorium for a Scottish company
International restructuring and insolvency
UK ruling on solvent liquidations conflicts with US approach (Carter v Bailey and Hutchinson (as foreign representatives of Sturgeon Central Asia Balanced Fund Ltd))
2020 Heralds New Insolvency Law Changes for Guernsey
English courts have jurisdiction to appoint administrators in respect of a company incorporated in Gibraltar which had its centre of main interests in the UK (Re Nektan (Gibraltar) Limited)
Exclusive jurisdiction and the ability to confer international jurisdiction on courts in a different Member State (Tiger and Others)
Demystifying Chinese insolvencies—all roads lead to the Mainland
Ukraine: Trust ownership as an alternative to a mortgage
Pearson (in his capacity as additional liquidator of Herald Fund SPC (in official liquidation)) v Primeo Fund (in official liquidation) (Cayman Islands)
UB v VA and others
New content
New Practice Notes
New Brexit materials
New Checklist
New Precedent
Latest Q&As
Dates for your diary

Article summary

This month's edition of Restructuring & Insolvency monthly highlights includes: a look at the impact of Brexit on R&I lawyers during the implementation period, another decision on e-filing (Re Keyworker Homes (North West) Limited), new insolvency laws in Guernsey, directors’ duties (Re System Building Services Ltd) and whether the UNCITRAL Model Law on Insolvency applies to solvent companies (Re Sturgeon), plus gives a round up of the most important latest news and cases from this month. Sign in or take a trial to read the full analysis.