IN THE MATTER OF BERNARD L MADOFF INVESTMENT SECURITIES LLC (2010)
It was appropriate that any documents in the possession of a fund management company be disclosed to the trustee of a United States company in liquidation where those documents were necessary for the trustee to discharge his duty to investigate what claims the US company and its investors, who had been the victims of a substantial fraud, might have and against whom.
INSOLVENCY
Ch D (Kitchin J) 27/5/2010
References: LTL 27/5/2010 EXTEMPORE
Document No.: Case Law - AC9501789
IN THE MATTER OF (1) BLOOMSBURY INTERNATIONAL LTD (In Administration) (2) BRITISH SEAFOOD LTD (In Administration) (3) SEAFOOD INTERMEDIATE CO 1 LTD (In Administration) (4) BRITISH SEAFOOD HOLDINGS LTD (In Administration) sub nom (1) BLOOMSBURY INTERNATIONAL LTD (In Administration) (2) BRITISH SEAFOOD LTD (In Administration) (3) SEAFOOD INTERMEDIATE CO 1 LTD (In Administration) (4) BRITISH SEAFOOD HOLDINGS (In Administration) v MARK ALAN HOLYOAKE & 18 ORS : (1) MARK ALAN HOLYOAKE (2) DAVID CLIVE WELLS v (1) MATTHEW DAVID SMITH (2) NICHOLAS GUY EDWARDS (3) LOUISE MARY BRITTAIN (2010)
Where administrators brought an action for fraud against former company directors, and had provided a cross-undertaking on behalf of the insolvent company which was likely to be worthless, it was appropriate to order that the cross-undertaking be fortified by a bank guarantee. The administrators had brought the action for the benefit of large institutional creditors who would be able to provide an indemnity.
CIVIL PROCEDURE - INSOLVENCY
Ch D (Companies Ct) (Floyd J) 21/5/2010
References: LTL 24/5/2010
Document No.: Case Law - AC0124838
IN THE MATTER OF LEGAL & EQUITABLE SECURITIES PLC sub nom BELLER v LINTON & ANOR (2010)
A registrar had been entitled in the exercise of his discretion to refuse to grant an individual an extension of time to apply for an order under the Insolvency Rules 1986 r.4.83 to reverse a decision of the liquidator of a company in respect of a debt claim, as there had been a significant delay in seeking the order for which there was no satisfactory justification.
CIVIL PROCEDURE - INSOLVENCY
Ch D (Lewison J) 21/5/2010
References: LTL 21/5/2010 EXTEMPORE
Document No.: Case Law - AC9800415
JUSTIN MAYHEW (Claimant) v (1) PHILLIP KING (2) MILBANK TRUCKS LTD (Defendants) & CHAUCER INSURANCE PLC (Third Party) : CHAUCER INSURANCE PLC (Part 20 Claimant) v (1) TOWERGATE STAFFORD KNIGHT CO LTD (T/A FOLGATE LONDON MARKET LTD) (2) TOWERGATE PARTNERSHIP LTD (Part 20 Defendants) (2010)
A contract which granted an indemnity to a company, but also provided that the indemnity would cease upon the company's insolvency, offended the principle of anti-deprivation as it deprived the company's administrators of an asset which could have been distributed to creditors.
INSOLVENCY - INSURANCE
Ch D (Sir Edward Evans-Lombe) 20/5/2010
References: LTL 21/5/2010
Document No.: Case Law - AC0124823
News & Press
Insolvency of a qualifying insurer
INSOLVENCY - INSURANCE - LEGAL PROFESSION
Law Society
May 26, 2010
Document No.: News and Press - AR0118672
Quinn Insurance: latest update for PII policy holders
INSOLVENCY - INSURANCE - LEGAL PROFESSION
Law Society
May 26, 2010
Document No.: News and Press - AR0118675
It was appropriate that any documents in the possession of a fund management company be disclosed to the trustee of a United States company in liquidation where those documents were necessary for the trustee to discharge his duty to investigate what claims the US company and its investors, who had been the victims of a substantial fraud, might have and against whom.
INSOLVENCY
Ch D (Kitchin J) 27/5/2010
References: LTL 27/5/2010 EXTEMPORE
Document No.: Case Law - AC9501789
IN THE MATTER OF (1) BLOOMSBURY INTERNATIONAL LTD (In Administration) (2) BRITISH SEAFOOD LTD (In Administration) (3) SEAFOOD INTERMEDIATE CO 1 LTD (In Administration) (4) BRITISH SEAFOOD HOLDINGS LTD (In Administration) sub nom (1) BLOOMSBURY INTERNATIONAL LTD (In Administration) (2) BRITISH SEAFOOD LTD (In Administration) (3) SEAFOOD INTERMEDIATE CO 1 LTD (In Administration) (4) BRITISH SEAFOOD HOLDINGS (In Administration) v MARK ALAN HOLYOAKE & 18 ORS : (1) MARK ALAN HOLYOAKE (2) DAVID CLIVE WELLS v (1) MATTHEW DAVID SMITH (2) NICHOLAS GUY EDWARDS (3) LOUISE MARY BRITTAIN (2010)
Where administrators brought an action for fraud against former company directors, and had provided a cross-undertaking on behalf of the insolvent company which was likely to be worthless, it was appropriate to order that the cross-undertaking be fortified by a bank guarantee. The administrators had brought the action for the benefit of large institutional creditors who would be able to provide an indemnity.
CIVIL PROCEDURE - INSOLVENCY
Ch D (Companies Ct) (Floyd J) 21/5/2010
References: LTL 24/5/2010
Document No.: Case Law - AC0124838
IN THE MATTER OF LEGAL & EQUITABLE SECURITIES PLC sub nom BELLER v LINTON & ANOR (2010)
A registrar had been entitled in the exercise of his discretion to refuse to grant an individual an extension of time to apply for an order under the Insolvency Rules 1986 r.4.83 to reverse a decision of the liquidator of a company in respect of a debt claim, as there had been a significant delay in seeking the order for which there was no satisfactory justification.
CIVIL PROCEDURE - INSOLVENCY
Ch D (Lewison J) 21/5/2010
References: LTL 21/5/2010 EXTEMPORE
Document No.: Case Law - AC9800415
JUSTIN MAYHEW (Claimant) v (1) PHILLIP KING (2) MILBANK TRUCKS LTD (Defendants) & CHAUCER INSURANCE PLC (Third Party) : CHAUCER INSURANCE PLC (Part 20 Claimant) v (1) TOWERGATE STAFFORD KNIGHT CO LTD (T/A FOLGATE LONDON MARKET LTD) (2) TOWERGATE PARTNERSHIP LTD (Part 20 Defendants) (2010)
A contract which granted an indemnity to a company, but also provided that the indemnity would cease upon the company's insolvency, offended the principle of anti-deprivation as it deprived the company's administrators of an asset which could have been distributed to creditors.
INSOLVENCY - INSURANCE
Ch D (Sir Edward Evans-Lombe) 20/5/2010
References: LTL 21/5/2010
Document No.: Case Law - AC0124823
News & Press
Insolvency of a qualifying insurer
INSOLVENCY - INSURANCE - LEGAL PROFESSION
Law Society
May 26, 2010
Document No.: News and Press - AR0118672
Quinn Insurance: latest update for PII policy holders
INSOLVENCY - INSURANCE - LEGAL PROFESSION
Law Society
May 26, 2010
Document No.: News and Press - AR0118675
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