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Acting Behind The Scenes: High Court Confirms Duties Of Shadow Directors

In Standish & Ors v The Royal Bank of Scotland Plc & Anor (the “Judgment”), the High Court confirmed that the duties owed by a shadow director are limited to the subject matter of their instructions. This alert is...more

To Scheme or not to Scheme: the Key Issues Considered to Sanction the LBIE Scheme of Arrangement

Case: Lehman Brothers International (Europe) (in administration) [2018] EWHC 1980 (Ch), Hildyard J (27 July 2018) - The High Court sanctioned a complex scheme of arrangement (“Scheme") under the Companies Act 2006 (“CA...more

10/22/2019  /  EU , Insolvency , Lehman Brothers , Restructuring

The Truth about Dishonesty in Fraudulent Trading under English Law

Case: Pantiles Investments Ltd & Anor v Winckler [2019] EWHC 1298 (Ch) (23 May 2019) - A recent decision of the English High Court (the “Court”) has found a director guilty of fraudulent trading under s. 213 Insolvency Act...more

English Court Provides Guidance on Director Liability for Dividends - The High Court decision in Burnden Holdings clarifies the...

A recent decision of the High Court of Justice in England & Wales in Re Burnden Holdings (UK) Limited (in liquidation) [2019] EWHC 1566 (Ch) (“Burnden Holdings”) provides a thorough review of English dividends law, including...more

Return of Crown Preference at the Expense of Floating Chargeholders

Much controversy followed the British government’s announcement in 2018 that it intended to reintroduce a statutory priority for certain tax debts of companies subject to the UK insolvency regime. Following consultation by...more

Defrauding Creditors Through Dividends, and the Shift of Directors’ Duties

The Court of Appeal of England and Wales (“CA”) made a significant ruling on two matters affecting the powers and duties of directors of English companies....more

You Say Advance, I Say Repay – What Does the Court of Appeal Say? - Clarification by the Court of Appeal (England and Wales) on...

Case: Leibson Corporation and Others v TOC Investments Corporation and Others [2018] EWCA Civ 763 (17 April 2018). The Court of Appeal of England and Wales (“CA”) has provided clarification on constructing contracts. Its...more

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