The Law of Insolvency 2nd Supplement

The Law of Insolvency provides complete coverage of all aspects of insolvency law, both corporate and personal, as well as the international aspects of insolvency, all in one volume. The 2nd supplement to the 4th edition brings the main work up-to-date and deals with all the developments in the law relating to insolvency since the publication of the main work. The new supplement covers: Legislation: Entry into force of Part 3 of the Tribunals, Courts and Enforcement Act 2007 (abolition of the ancient remedy of distress and replacement with a new enforcement procedure. Practice Direction 2012: restating the practical requirements relating to proceedings in both personal and company insolvency matters. Major judicial decisions, including: Supreme Court: HMRC v. Holland (de facto directors); Re Kaupthing Singer & Friedlander Ltd (double-proof, set-off and the rule in Cherry v. Boultbee); Re The Nortel Companies and the Lehman Companies (contribution notices issued by the Pensions Regulator are to be treated as provable claims in administration, but do not constitute administration expenses); BNY Corporate Trustee Services Ltd v. Eurosail (the statutory test of balance-sheet insolvency, and "inability to pay debts as they fall due"); Rubin v. Eurofinance (enforcement of foreign judgments issued by a court during the course of insolvency proceedings). Court of Appeal: Jervis v. Pillar-Denton Ltd (treatment of rent as an administration expense - Goldacre and Luminar, and related cases overruled); Bilta v. Nazir (extra-territorial application of fraudulent trading remedy); HSBC v. Tambrook (Jersey) Ltd (judicial assistance under s.426 of the Insolvency Act 1986); Stonham v. Ramrattan (treatment of the bankrupt's family home); Bramston v. Haut (suspension of the bankrupt's discharge); Re Olympic Airlines SA (on the test for the existence of an establishment under the European Insolvency Regulation); Cathie v. Secretary of State (the burden of proof in directors' disqualification proceedings); Re Globespan Airways Ltd (effective date of registration at Companies House of conversion from administration to CVL). High Court: Raithatha v. Williamson (on income payments orders, and the ability of the trustee in bankruptcy to access funds in the bankrupt's "pension pot"). Multiple cases concerning defective appointments of administrators, including: Re MF Global Ltd; Re Care People Ltd; Re Eco Link Resources Ltd; Re Virtual Purple Professional Services Ltd . Multiple cases involving "bankruptcy tourism" issues under the European Insolvency Regulation, including: Official Receiver v. Keelan; Eck v. Zapf; Schrade v. Sparkasse Ludenscheid ; Irish Bank Resolution Corp Ltd v. Quinn; and O'Donnell v. Bank of Ireland . Court of Justice of the European Union: cases on the application of the European Insolvency Regulation, including: F-Tex SIA v. Lietuvos-Anglijos UAB "Jadecloud-Vilma" (jurisdiction in cases where the liquidator has assigned a cause of action to another party); ERSTE Bank Hungary Nyrt v. Republic of Hungary (application of the regime of the Insolvency Regulation to newly-joined Member States); Rastelli Davide e C. Snc v. Jean-Charles Hidoux (Liquidator of Mediasucre International) (on the exercise of jurisdiction over companies alleged to be closely connected with one another). The prospective revision of the European Insolvency Regulation during 2014-15 is also considered.