Show me the money—insolvency practitioners and document production (Re Harlequin Property (SVG); Glasgow v Ames)

Article summary

Restructuring & Insolvency analysis: In the context of a large, international fraud, an office-holder (in a foreign main proceeding recognised under the Cross-Border Insolvency Regulations 2006 (CBIR 2006)) was granted an order for disclosure under sections 234 and 236 of the Insolvency Act 1986 (IA 1986) of a database of 65 million documents which included documents (related to third party companies) of which some were privileged. The court held that, for IA 1986, ss 234 and 236 to apply, not all documents within the cohort need to relate to the company in the insolvency process; the court has some leeway, where the circumstances require it, to order disclosure of documents that may end up not relating to the company and may include third party documents. That was especially the case where the precise ownership or entitlement to documents has been obscured by entangled arrangements between related companies (as here in the context of a large...