In order to assess whether a Bankruptcy can be annulled, section 282 of the Insolvency Act 1986 and Rule 10.132-10.141 of the Insolvency (England and Wales) Rules 2016 should be considered in the first instance. Section 282 of the Insolvency Act 1986 Section 282 sets out the court’s power to annul a bankruptcy order. The relevant […]
Can a Bankruptcy Order be annulled? Read More »
Case comment: Wood v Watkin [2019] EWHC 1311 (Ch) (Judge Barber of the High Court) The above case serves as a warning on officeholder claims and provides further clarity on the expectation of the court in relation to office holders discharging their evidential burden The Facts Karl Watkin (the “Debtor”) was a successful entrepreneur, however,
Office holders discharging their evidential burden Read More »
McTear v Eade and anr (Re C.J. & R.A. Eade LLP (in liquidation)) [2019] EWHC 1673 (Ch), ICCJ Jones, 11 June 2019 This case, before I.C.C. Judge Jones, was the first reported case under section 214A of the Insolvency Act 1986. This provision, which relates to wrongful trading, allows the liquidator of an insolvent Limited
Where an individual is adjudged bankrupt, all his property (subject to certain exceptions) will vest in his Trustee in Bankruptcy immediately upon their appointment pursuant to section 306 of the Insolvency Act 1986 (“the Act”). “Property” is broadly defined in legislation. Section 436 of the Act defines property as ‘money, goods, things in action, land and
What constitutes property for the purposes of section 436 of the Insolvency Act 1986? Read More »
Case comment: Wallace v Wallace [2019] EWHC 2503 (Ch) (25 September 2019) (Adam Johnson QC sitting as a Judge of the High Court) The above case provides further clarity on the jurisdictional reach of section 236 Insolvency Act 1986 (and the bankruptcy equivalent section 366 Insolvency Act 1986). Insolvency Act 1986 (“IA 1986”) and Insolvency (England &
Insolvency Act – Case Comment Read More »
So, a company owes you money and they haven’t responded to your requests for payment? You are well within your rights to send them a Statutory Demand formally stating that a debt must be paid. Be careful though, failure to include any security you hold in connection to the debt or stating an incorrect claim amount provides
What do I need to include in my Statutory Demand? Read More »
In this interesting employment case, the Employment Appeals Tribunal (EAT) found that related claims could continue despite a stay (or suspension) of court proceedings against the employer, being a company in administration. Basically paragraph 43(6), Schedule B1, Insolvency Act 1986 states that where a company is in administration, no legal proceedings can be brought or
Employment Law and Administration-an interesting mix Read More »
Calling all creditors! Whilst you might think the procedure for presenting a petition against a debtor is simple, it seems that the English Legal System is keeping you on your toes! The Risks of Presenting D.I.Y Petitions Recently we have had an influx of creditor client’s approaching us to assist them with the amending and
The Risks of Presenting D.I.Y Petitions Read More »
The biggest risk area is around contracts, particularly in the SME sector, where businesses may not have the resources to pursue a costly claim. The warning comes after a change to LASPO that came into force in April which now means that businesses are unable to insure their costs in the event of collapse to
Encompass Corporation LASPO Survey on Insolvency Read More »
In this two part series, solicitor and founding partner Jeremy Boyle of Summit Law LLP and Barrister Louise Bowmaker of Enterprise Chambers, take a look at the legislation relating to directors’ overdrawn loan accounts. In Part 1 we looked at the Companies Act 2006 but as stated in our earlier blog above the 1985 Act will continue
Overdrawn Directors’ Loan Accounts – Part 2 Read More »
