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Liquidation and bankruptcy The general rule in relation to both liquidation and bankruptcy is that, after the payment of expenses and preferential debts, the company’s/bankrupt’s property shall be applied in satisfaction of debts of the company/bankrupt which must be paid in full unless the assets are insufficient in which case they abate in equal proportions between themselves. For further information on the order of payments, see Practice Notes: • Waterfall of payments—a comparative guide • Waterfall of payments in liquidation • Waterfall of payments in bankruptcy Whenever the liquidator/trustee in bankruptcy (trustee) has sufficient funds in the insolvent estate, they shall, subject to the retention of sums as may be necessary for the expenses of the liquidation/bankruptcy, declare and distribute dividends among the creditors in respect of the debts for which they have respectively proved. This recognises that if the liquidator/trustee waited until all the assets of the company/bankrupt have been realised and all enforceable debts and liabilities proved, this would, in practice, have the effect of protracting the liquidation/bankruptcy. Instead,

Dispute Resolution analysis: The Court of Appeal has confirmed that an appellant's notice can be filed up until midnight on the relevant day if filed electronically under CPR PD 51O (the Electronic working pilot scheme). CPR 52.12(2) defines the time period within which an appellant's notice must be filed but does not specify the time of day by which filing must occur. The court held that there was no reason why electronic filing should have to take place by a particular time, such as 4.30 pm. Electronic filing was not introduced in order to supplement other methods (such as email, post or fax). It was intended to replace such methods with a wholly new scheme through which parties can issue proceedings and file documents online '24 hours a day every day all year round'. Written by Harriet Campbell, senior knowledge lawyer at Stephenson Harwood LLP.

Arbitration analysis: In Eronat v CNPC International and another, the parties had agreed to a bespoke contractual provision entitling parties to appeal an award within 30 days from the date at which the arbitral decision was ‘rendered’. This was in contrast to the default position under the LCIA Rules where there is no right to appeal. In construing the word ‘rendered’ very strictly and dismissing an appeal under section 69 of the Arbitration Act, the court found that time started running the date that the award was made, rather than the date the award was notified to the parties. The judgment serves as an important reminder for parties to act promptly when faced with contractual time limits, particularly when they relate to the challenge of arbitral awards. Written by Kirtan Prasad, of counsel, and Jessica Davies, associate, at RPC.

Public Law analysis: In R (on the application of British Gas Trading Ltd) v Secretary of State for Energy Security and Net Zero, the High Court refused permission for judicial review where challenges to decisions made by the Secretary of State (SoS) regarding the transfer of the business of Bulb Energy to Octopus Energy were brought within a matter of weeks. The Divisional Court found there had been undue delay in bringing the applications for judicial review, but in any event would have dismissed the challenges, which were based on public law principles and on alleged non-compliance with the Subsidy Control Principles, on their substance. In this article, Andrew Lidbetter, Nusrat Zar, Jasveer Randhawa and James Wood of Herbert Smith Freehills LLP discuss what this case demonstrates about the importance of strict time limits in judicial review proceedings and the ‘light touch’ standard of review in this commercial context.

On Wednesday 10th January 2024 the Delegated Legislation Committee of the House of Commons considered the draft Immigration (Health Charge) (amendment) Order 2023. This draft Statutory Instrument was originally laid before the House of Commons on 19 October 2023, and has a commencement date of ‘the later of 16th January 2024 or the twenty-first day after the day on which it is made’. The SI is following the ‘draft affirmative’ procedure, and its timing has slipped. The SI has received approval in the House of Lords. Following its consideration by the Delegated Legislation Committee of the Commons it will now move to the next stage, which is approval by the House of Commons. After that it will then go to the final procedural stage, when it will be ‘made’. It will then come into force 21 days from that date. It is worth noting that the timing on two other SIs which were initially anticipated to come into force in January 2024 has also slipped. These are the  Immigration Act 2014 (Residential Accommodation) (Maximum Penalty) Order 2023 and the Immigration (Employment of Adults Subject to Immigration Control) (Maximum Penalty) (Amendment) Order 2023, which are both also subject to the draft affirmative procedure. These were initially laid on 15 November 2023 and state that they are to come into force on 22 January 2024, or, if later, on the twenty-first day after the day on which they are made. However, as at today, they have not yet been approved by either House.

PI & Clinical Negligence analysis: An interesting case came out of the Bear Garden at the end of February, which may be of interest to clinical negligence practitioners.

The World Trade Organization (WTO) has welcomed Timor-Leste as its 166th member, after a seven-and-a-half-year accession process. Timor-Leste, the 11th least-developed country to join the WTO, deposited its instrument of acceptance on 31 July 2024, with membership taking effect on 30 August 2024. Timor-Leste also formally accepted the WTO Agreement on Fisheries Subsidies.

Online dating app Tinder has committed to provide consumers with clear information about personalised prices after discussions with the European Commission and EU Member States' consumer authorities. The Consumer Protection Cooperation Network (CPC) started the dialogue with Tinder in July 2022 under the Commission's coordination following an early 2022 study from the Swedish consumer association showing that the app charged different prices from one user to the other without informing them. Moreover, no clear pattern emerged as to which variables determined the price. These practices were violations of EU consumer law, including Directive 2005/29/EC (EU Unfair Commercial Practices Directive) and Directive 2011/83/EU (EU Consumer Rights Directive). The CPC will actively monitor how Tinder implements the commitments on the app and, where necessary, enforce compliance, for example by imposing fines.

A ringing or buzzing in the ears often caused by exposure to noise.

Under the Proceeds of Crime Act 2002 (PCA 2002), s 333A a person commits an offence if he discloses that he or another has made a disclosure under PCA 2002, pt 7.

There are several offences of tipping-off and prejudicing an investigation that apply to the regulated sector. There are also related offences of prejudicing an investigation and interfering with documents. This Practice Note discusses the offences of tipping-off and prejudicing an investigation under the Proceeds of Crime Act 2002 (POCA 2002). It reflects the requirements of the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (MLR 2017), SI 2017/692, as amended. Suspicious activity report (SAR) The principal money laundering offences are: • concealing criminal property • being concerned in an arrangement that facilitates money laundering • possessing criminal property POCA 2002 imposes an obligation to report knowledge or suspicions of money laundering. This is done by way of a SAR. You will have a defence to a principal money laundering offence if you make a SAR to the National Crime Agency (NCA) and you receive appropriate consent (or a defence) to do an act that would otherwise constitute such an offence. POCA 2002 also imposes criminal sanctions