Restructuring & Insolvency analysis: In this important judgment on the special administration regime for payment and e-money institutions, the court granted a special administrator order over JNFX Ltd (JNFX), a Financial Conduct Authority (FCA)-regulated payment institution that had failed to satisfy a substantial judgment debt. Crucially, the court rejected the administrators proposed by the company’s directors (supported by the FCA) and instead appointed the creditors’ preferred nominees, emphasising that creditor wishes remain highly influential even in the regulated sector variant of administration. The decision also confirms that insolvency alone (Ground A) is sufficient to justify a special administration order and that creditors may be permitted to participate in and challenge the appointment process. For practitioners, the case underscores the need for proactive engagement with creditors, careful conflict management when nominating administrators, and an understanding that the court will prioritise the statutory objectives—particularly the return of safeguarded customer funds, while remaining alert to potential concerns about independence or governance in the pre-appointment phase. Written by Ben Rutledge, managing associate and solicitor advocate at Keidan Harrison LLP.

A claim against professional advisers may be based in contract, tort, equity or all three (see Practice Note: Bringing a professional negligence claim based on the duty in contract, tort and equity). Depending on the specific facts (including any express provisions in the retainer between A and B), it may be possible for A to establish a contractual or a tortious cause of action against C. These causes of action are independent of each other and it will be heavily fact dependent whether either is made out. Professional negligence claim in contract We refer you to the Practice Note:

Continuity of employment Section 218 of the Employment Rights Act 1996 (ERA 1996) sets out the circumstances in which continuity of employment will not be broken where there is a change of employer that is not a relevant transfer under the Transfer of Undertakings (Protection of Employment) Regulations 2006, SI 2006/246. These include where, at the time of the change, the two employers are associated employers, ie one of the companies controls the other, or both of them are controlled by a third company. For further information, see the section of Practice Note:

When an executor takes out a grant of probate in a testator's estate, they become an executor not just of that testator's Will but also of any Will of any other individual of which the testator was sole or sole surviving proving executor. The chain of representation passes from proving executor to proving executor. See Practice Note: The chain of representation (in particular, see the section titled: 'Where a sole or sole surviving executor dies'). So where B is the sole

You have asked: Where (i) one of five joint tenants under a fixed term assured shorthold tenancy gives notice to the landlord of that individual's intention to vacate the property on the expiry of the term, but (ii) the other tenants intend to remain, does this end the tenancy or does the tenancy agreement continue as a periodic tenancy? At the end of the fixed term of the assured shorthold tenancy, unless the landlord obtains an order from the court, or there is a surrender or other action on the part

Whether or not an asset forms part of the marital acquest will impact on the application of the general principles applied by the court (see Practice Notes: Factors considered by the court on financial provision and Compensation, sharing and equality). A party who seeks to define an asset as non-matrimonial will generally do so with the intention of excluding that asset from the general principles applied to matrimonial assets. The House of Lords in Miller v Miller; McFarlane v McFarlane provided guidance on assets that will usually be considered to be matrimonial property and those that may be non-matrimonial property. Key points made by Lord Nicholls were: • matrimonial property constitutes assets acquired during the marriage, including business and investment assets acquired other than by inheritance or gift to

In an asset purchase agreement, a seller (who may also be a sole trader) will typically provide warranties to the buyer in respect of litigation (eg that the seller is not at the date of the agreement, engaged in any litigation, arbitration, mediation, dispute resolution or criminal proceedings related to or in connection with the business, and, so far as the seller is aware, there are no such proceedings pending, threatened or expected). An asset purchase agreement will

What duties does an agent owe to their principal? See Practice Note: Nature and types of agency for general guidance on the different types of agency and how they may arise. Practice Note: Relationship of principal and agent provides that the rights and duties as between agent and principal are usually set out in the terms of any written document entered into to establish their agency relationship, but that additional rights and duties may be implied by law, depending on the circumstances of each relationship. Therefore the majority of the specific duties the agent owes their principal will be specifically set out in their agreement (if one has been concluded). Any deviation from those duties may amount to

CPR 36 contains a self-contained procedural code in respect of offers to settle. CPR 36 provides incentives to settle in that the consequences of a party doing better than an offer to settle are significant for the other party including, in the case of a claimant offer, an uplift on damages and interest at up to 10% above base rate. See generally Practice Note: Part 36 offers—what are they, why make them? By CPR 36.2(3), a Part 36 offer may be made in respect of the whole, or part of, or any issue that arises in a claim, counterclaim or additional claim or an appeal and may be made before proceedings have commenced or at any stage during those proceedings, but does not apply to small claims. CPR 36.5 sets out the form and content of a Part 36 offer. It

In this Q&A, we have focussed on the impact of an assignment on the contractual relationship between the parties and have not considered separate issues which may arise under guarantees. Effect of an assignment In this Q&A, A and B enter into an initial contract with each other and exchange promises to perform obligations. B’s performance under the initial contract is guaranteed to A by third party C (we assume under a separate contract, such as a parent company guarantee). It is not immediately obvious why the assignment of rights under the initial contract from B to C would negate the guarantee agreement. We assume in this Q&A that the assignment is a true assignment of rights only. An assignment is

If there are no express or terms between the parties (and the court refuses to impute any), is there any basis on which B can recover from A? If A and B have agreed that on condition X occurring A will pay B a sum of money, then once X has occurred that money should be paid. A simpler way to view it is perhaps by an example. So, if I agree that on supplying a

There are various ways in which a dispute can be settled: • by exchange of mail • by entering into a contract • by entering into a deed • by agreeing a consent order • by agreeing a Tomlin order • by other means that do not involve the recording of the element of consent In order for there to be a contractually binding settlement: • there must be an acceptance of the offer (final and unqualified assent to an offer) • the