| Andrew Cawkwell Head of Corporate Recovery and Insolvency Watson Burton LLP 1 St James' Gate Newcastle upon Tyne , NE99 1YQ England |  | Work: 0191 2444338 Mobile: 07973 502809 Fax: 0191 2444500 Email: andrewcawkwell@live.co.uk IM: andrewcawkwell@live.co.uk (MSN)  http://uk.linkedin.com/in/insolvencyandturnaroundMy Blog | |
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From: Steven Petrie
Sent: 02 August 2010 09:19
To: Kelly Jordan; Andrew Cawkwell; Imran Malik
Subject: FW: Insolvency update : 02/08/2010fyi
(1) DAVID RUBIN (2) HENRY LAN (JOINT RECEIVERS & MANAGERS OF CONSUMERS TRUST) v (1) EUROFINANCE SA (2) ADRIAN ROMAN (3) JUSTIN ROMAN (4) NICHOLAS ROMAN (2010)
Judgments made in New York in adversary proceedings following bankruptcy were judgments in the collective enforcement regime of the bankruptcy proceedings and were therefore subject to the private international law rules relating to bankruptcy. They were therefore recognised as a foreign main proceeding for the purposes of the Cross-Border Insolvency Regulations 2006 Sch.1.
INSOLVENCY - CIVIL PROCEDURE - INTERNATIONAL LAW
CA (Civ Div) (Ward LJ, Wilson LJ, Henderson J) 30/7/2010
References: LTL 30/7/2010
Document No.: Case Law - AC0125725
(1) COSIMO BORRELLI (2) NICHOLAS TIMOTHY CORNFORTH HILL (3) R CRAIG CHRISTENSEN (LIQUIDATORS OF AKAI HOLDINGS LTD) (4) AKAI HOLDINGS LTD v (1) JAMES HENRY TING (2) BLOSSOM ASSETS LTD (3) COSTNER HOLDINGS LTD (2010)
The former chairman of a Hong Kong company could not rely on the provisions of a settlement agreement in order to defeat claims brought against him by the liquidators of the company. The agreement was not valid, as the liquidators had entered into it as a result of economic duress.
CONTRACTS - COMPANY LAW - INSOLVENCY
PC (Ber) (Lord Phillips, Lord Saville, Lord Clarke, Dame Mary Arden, Lord Eassie) 29/7/2010
References: LTL 29/7/2010
Document No.: Case Law - AC0125683
R (on the application of COOPER) v SECRETARY OF STATE FOR WORK & PENSIONS : R (on the application of PAYNE) (Claimant) v (1) SECRETARY OF STATE FOR WORK & PENSIONS (Defendant) (2) INSOLVENCY SERVICE (Interested Party) (2010)
Where debt relief orders had been made in respect of individuals entitled to social security benefits the Secretary of State for Work and Pensions was precluded from recovering overpaid benefits or Social Fund loan debts from those individuals through the making of deductions from their ongoing entitlement to benefit as such deductions amounted to the exercise of a "remedy in respect of the debt" within the meaning of the Insolvency Act 1986 s.251G(2)(a).
INSOLVENCY - SOCIAL SECURITY
QBD (Admin) (Cranston J) 25/7/2010
References: LTL 28/7/2010 EXTEMPORE
Document No.: Case Law - AC9501802
(1) MOURANT & CO TRUSTEES LTD (2) MOURANT PROPERTY TRUSTEES LTD v (1) SIXTY UK LTD (In Administration) (2) PETER HOLLIS (3) NICHOLAS O'REILLY (AS JOINT ADMINISTRATORS OF SIXTY UK LTD) (2010)
Where a landlord had leased two retail properties to a company, whose liabilities were guaranteed by its parent company, a subsequent company voluntary arrangement was set aside as it was unfairly prejudicial to the interests of the landlord as the effect of the CVA was to release the parent company from all liability under the guarantees.
INSOLVENCY
Ch D (Companies Ct) (Henderson J) 23/7/2010
References: LTL 26/7/2010
Document No.: Case Law - AC0125502
News & Press
Proposals for a Restructuring Moratorium - a consultation
INSOLVENCY
Insolvency Service
Jul 26, 2010
Document No.: News and Press - AR0127284
Consultation on Insolvency Statistics: Quarterly insolvency statistics release (National Statistics): All other Official Statistics on insolvency - A National Statistics Consultation
GOVERNMENT ADMINISTRATION - INSOLVENCY
Insolvency Service and National Statistics
Jul 26, 2010
Document No.: News and Press - AR0127290
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