- Transactions defrauding creditors and proof of purpose (New Media Distribution Company SEZC Ltd v Kagalovsky)
- What are the practical implications of the judgment?
- What was the background?
- What did the court decide?
Restructuring & Insolvency analysis: In New Media Distribution Company SEZC Ltd v Kagalovsky, the Chancery Division applied sections 423–425 of the Insolvency Act 1986 (IA 1986) to the transfer of an interest in a Ukrainian television station and found the transaction was made for a prohibited purpose. Barbara Dohmann QC and Ajay Ratan, barristers at Blackstone Chambers, discuss the decision.
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