United Kingdom - June 9 2011 In a recent case in relation to the liquidation of Echelon Wealth Management Limited ("E"), Lord Glennie has decided that upon removal as liquidator, a former liquidator may not retain from the assets of the liquidated company any sum as security for costs.
United Kingdom - May 13 2011 In its ministerial statement this week in relation to its consultation on the proposals for a restructuring moratorium, the Government has indicated that it now proposes to consider implementing measures to tackle the unreasonable use of termination clauses in insolvencies.
United Kingdom - May 11 2011 In the recent English Court of Appeal case of Rubin v Coote, the court allowed a liquidator to settle litigation without having obtained the agreement of all creditors to the compromise.
United Kingdom - March 22 2011 The recent Court of Session case of Tayplan Limited (in administration) v Smith is particularly interesting as it is a case where the administrator chose to pursue directors for breach of fiduciary duties rather than using any of the more common statutory remedies.
United Kingdom - February 21 2011 The Insolvency Service ("IS") has published a consultation on proposed reform to the regulation of insolvency practitioners.