Caseplayers Litigation privilege: this applies here to documents created for the dominant purpose of obtaining legal advice; or information or evidence, in connection with litigation which is reasonably contemplated. The case was heard in the context of interviews which were conducted by insolvency practitioners appointed following the discovery of a massive fraud and associated dent in the … Read more
A foreign judgment cannot be used as the basis for a bankruptcy petition in England and Wales unless it has already been recognised by an English court. This has overturned the High Court’s decision, which had reached the opposite conclusion. This case concerns an appeal of the case of Drelle v Servis-Terminal LLC [2024], which … Read more
Where purchasers make an express declaration of trust, that declaration will be conclusive “unless varied by subsequent agreement” or affected by proprietary estoppel. In the benchmark case of Stack v Dowden [2007] UKHL 17, Baroness Hale famously said that an express declaration of trust is conclusive unless varied by “subsequent agreement” or affected by proprietary estoppel. But … Read more
Practitioners should be aware that email correspondence can give rise to a valid contractual waiver, and to waiver by estoppel. Where a contract requires a waiver to be given in writing, this can be done by email. An email can be validly signed electronically where: i) ‘individuals’ names are added or form part of the … Read more
Assets of a bankrupt which have been acquired by a third party may still be after-acquired property. If such assets were beneficially owned by the bankrupt, they would in such case have become vested in the trustee in bankruptcy. Not only do a trustee in bankruptcy’s investigatory role and powers relate to assets which were … Read more
How much reliance can an officeholder place on a members register? Can he or she assume that it is conclusive evidence of the record that details a company’s members? In this case, the Court of Appeal had to consider these questions when it looked at an earlier decision by a High Court judge who had … Read more
It is not sufficient for an office-holder merely to assert that they are entitled to documents under the Insolvency Act 1986 without providing evidence of a reasonable requirement for those documents. This decision shows that while the Insolvency Act provides office-holders with broad powers to obtain documents and information for the purposes of investigating the … Read more
This case concerned the validity of appointments of joint administrators, appointed in respect of QM Systems Ltd, where there were procedural defects in the notice of appointment (NOA). It does appear to be the case that practitioners are still concerned over whether every “i” is dotted and “t” is crossed in an NOA. This may … Read more
This case is notable as it was the first time the High Court awarded security for costs in a matter concerning a challenge to a proposed restructuring plan. Applications for security for costs in connection with Part 26 schemes and Part 26A plans are rare. Nothing in this judgment suggested that was likely to change. … Read more
Did enforcing foreign judgments by winding up just get easier? In this case, the court held that insolvency proceedings were not an “action on a judgment” for the purposes of section 24 of the Limitation Act 1980. This meant that they did not fall within the scope of the Limitation Act, and nor was there … Read more
