The recent Court of Appeal case of Stevensdrake Limited v Stephen Hunt [2017] EWCA Civ 1173 provides guidance on whether the office holder is liable to meet the legal costs in CFA cases where there are insufficient recoveries in the estate to meet those costs. Central to costs assessments in litigation proceedings is what is … Continue Reading
Following the liquidation of Bradford Bulls earlier this month, the Rugby Football League have agreed a deal for a new rugby league team based in Bradford to commence life in the Kingstone Press Championship for the start of the 2017 season on 5th February 2017. After a brief bidding process for the rights to incorporate … Continue Reading
Directors of a company are subject to certain duties under the Companies Act 2006. These duties are of obvious importance throughout their service as a director but some of them become particularly important during the period leading up to the insolvency of the company. If a current or former director of a company knew or … Continue Reading
The English High Court has, in one of the few successful cases on wrongful trading, clarified when directors ought to know that there is no reasonable prospect of avoiding insolvent liquidation and where the burden of proof lies in such cases. Background In Brookes v Armstrong (also known as Joint Liquidators of Robin Hood Centre … Continue Reading
Over the last seven months there has been a spate of cases dealing with the relationship between arbitration law and insolvency law. Winding-up petitions and arbitration clauses Where a winding-up petition has been presented on the basis of a contractual debt and the contract contains an arbitration clause, the Court should exercise its discretion to dismiss … Continue Reading
