Author Archives: Jon Colclough

Oldham v Katz [2018] EWHC 540 (Ch): administrators, misfeasance and funding arrangements with officeholders

Judgment on BAILII at: http://www.bailii.org/ew/cases/EWHC/Ch/2018/540.html Background MK Airlines Ltd (“MKA”) entered into administration in June 2008. The Appellant was one of three individuals appointed as administrators (“the Administrators”). A prospective purchaser was found, Transatlantic Aviation Ltd (“TAA“), which wished to … Continue reading

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Burnden v Fielding [2018] UKSC 14: directors’ duties and limitation

Judgment on BAILII at: http://www.bailii.org/uk/cases/UKSC/2018/14.html A significant Supreme Court decision relating to claims brought against directors. Background The Respondent, Burnden Holdings (UK) Limited (“the Company”), was a holding company for various trading subsidiaries. The Appellants were directors of the Company. … Continue reading

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Ve Vegas v Shinners [2018] EWHC 186 (Ch): officeholder conflicts of interest and removal of administrators

Judgment on BAILII at: http://www.bailii.org/ew/cases/EWHC/Ch/2018/186.html Ve Interactive Limited (“the Company”) was a company involved in providing e-commerce services. It entered into administration and the Respondents, members of Smith & Williamson LLP (“S&W”), were appointed as administrators. The Company’s business and … Continue reading

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Bakhshiyeva v Sberbank [2018] EWHC 59 (Ch): CBIR 2006, recognition orders and the “rule” in Anthony Gibbs

Judgment on BAILII at: http://www.bailii.org/ew/cases/EWHC/Ch/2018/59.html OJSC International Bank of Azerbaijan (“IBA“) is the largest commercial bank in Azerbaijan. It fell into financial difficulties and entered into a restructuring proceeding under Azeri law. The Applicant was appointed as IBA’s foreign representative … Continue reading

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Cherkasov v Olegovich [2017] EWHC 3153 (Ch): recognition orders and public policy

Judgment on BAILII at: http://www.bailii.org/ew/cases/EWHC/Ch/2017/3153.html The Respondent was the official receiver (i.e. liquidator) of a Russian company called Dalnyaya Step LLC (“DSL”). The English court had granted him a recognition order pursuant to the Cross-Border Insolvency Regulations 2006 (“CBIR 2006”). … Continue reading

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Premier Motorauctions v PwC [2017] EWCA Civ 1872: claims brought by companies in liquidation and security for costs

Judgment on BAILII at: http://www.bailii.org/ew/cases/EWCA/Civ/2017/1872.html Premier Motorauctions and a wholly-owned subsidiary (“the Companies”) were car auction companies. In 2008, they were suffering financial difficulties. Lloyds Bank was their banking provider. PwC was engaged to conduct a review of the Companies’ … Continue reading

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Ball v Hughes [2017] EWHC 3228 (Ch): directors’ duties, EBTs, unjust enrichment and the Duomatic principle

Judgment on BAILII at: http://www.bailii.org/ew/cases/EWHC/Ch/2017/3228.html PV Solar Solutions Ltd (“the Company”) was in the business of supplying and installing solar panels. In September 2011, the government announced that feed in tariff rates (a form of government subsidy) for solar installations … Continue reading

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Re Agrokor DD [2017] EWHC 2791 (Ch): recognition of foreign insolvency proceedings

Judgment on BAILII at: http://www.bailii.org/ew/cases/EWHC/Ch/2017/2791.html Agrokor DD (“the Company”) is the holding company of a Croatian conglomerate. The conglomerate accounts for approximately 15% of Croatian GDP. In April 2017, the Croatian legislature passed the “Extraordinary Administration Law” (“the EA Law”), … Continue reading

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Goel v Grant [2017] EWHC 2688 (Ch): administrators and unfair harm

Judgment on BAILII at: http://www.bailii.org/ew/cases/EWHC/Ch/2017/2688.html The majority shareholders (“the Applicants”) of a company in administration (“the Company”) applied for an order pursuant to paragraph 74, schedule B1 Insolvency Act 1986 (“IA 1986”) against the Company’s administrators (“the Administrators”). The Company … Continue reading

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Burlington v Lomas [2017] EWCA Civ 1462: surplus in administration, statutory interest

Judgment on BAILII at: http://www.bailii.org/ew/cases/EWCA/Civ/2017/1462.html This is the latest decision in the litigation following the collapse of Lehman Brothers in 2008 (and, specifically in this jurisdiction, Lehman Brothers International (Europe) (“LBIE”)). The administration has led to a surplus of £7.4bn … Continue reading

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