HMRC has issued new guidance explaining its expectations for the proportionate and appropriate use of Notices of Intended Dividends (NOIDs) in an MVL in light of what it says are challenges created by practitioners issuing a NOID at the start of an MVL where doing so might be inappropriate. … Continue Reading
The ability to fund insolvency litigation can make a significant difference to realisations in an insolvent estate. Although many claims are now assigned to specialist funders (where the funder both runs and funds the claim) some insolvency practitioners have (at least until the Supreme Court decision in PACCAR came along) used litigation funding agreements (LFAs) … Continue Reading
The Insolvency Service have held a long-established view that creditors are classed as such at the point of entry into an insolvency process. This view was brought into question and challenged in the cases of Pindar and Toogood where in essence the judges (after considering the definition of secured creditor in s248 of the Insolvency … Continue Reading
Since the cases of Avanti and UKCloud we have seen more arguments around the classification of a charge – is a typical floating charge asset actually subject to a fixed charge? Is a fixed charge really floating? Much depends on the control the charge holder asserts, but we have seen some novel claims. The position … Continue Reading
From time to time, officeholders apply to court to seek approval of a proposed course of action which they have decided to take in connection with their function. But where the court sanctions those decisions, are the officeholders protected from subsequent claims relating to the same? The Court of Appeal, in the case of Denaxe … Continue Reading
