The decision of Mr Justice Mann in the High Court in Payless Cash & Carry Limited v Patel and Others 2011 exemplifies the detailed investigation which can be carried out by the appointment of a provisional liquidator or a liquidator in cases of suspected fraud.
"Sorry but desperate times call for desperate measures."
Stone & Rolls Ltd (S&R) had been used as a vehicle for defrauding banks by a Mr Stojevic, who was the “sole directing mind and will and the beneficial owner of S&R”.
The Court of Final Appeal gave its judgment in the Nam Tai Electronics v PricewaterhouseCoopers case on 31 January 2008.
Professional indemnity insurance (PII) is very much part of professional business life.
Section 221 of the Companies Ordinance and its predecessor sections have been with us for a very long time its origins can be traced back to the Companies Ordinance 1865.
The Court confirmed that in circumstances where a reasonably competent solicitor could have obtained advice on evidence from counsel earlier, but that advice would have been the same whenever counsel was asked, a claimant's action for professional negligence succeeded on liability but failed on causation.
The House of Lords has had some important things to say about receivers’ liability in tort, and the law of conversion.
A recent claim in the UK by the liquidator of Stone & Rolls against City accountants Moore Stephens has focused attention on litigation funding.