Michael Gibbon KC and Maxim Cardew acted for the Official Receiver in his successful appeal to the Court of Appeal against the judgment in Shop Direct Finance Company Limited v The Official Receiver [2022] EWHC 1355 (Comm); [2022] BPIR 1280. The case arose against the backdrop of the PPI mis-selling scandal, which has...
On 22 November 2022, joint administrators were appointed to Scentrics Information Security Technologies Limited (“Scentrics”) by the executors of a deceased qualifying floating charge holder. Scentrics was described in the proceedings as a “technology IP company operating in the field of post-quantum cryptography and advanced machine learning techniques”. Mr Guruparan Chandrasekaran (Scentrics’...
Michael Gibbon QC and Maxim Cardew acted for the Official Receiver in Shop Direct Finance Company Limited v The Official Receiver [2022] EWHC 1355 (Comm). The case concerned bulk PPI complaints made in respect of thousands of bankrupt consumers of whom the Official Receiver is the trustee in bankruptcy, and in particular...
This is the first reported decision on costs relating to an application under s.133 of the Insolvency Act 1986 and is of relevance to creditors considering making a request under s.133, and to liquidators of companies which are the subject of a s.133 application. Mr Deuss was CEO and beneficial owner...
Thomas Munby and James Mitchell were instructed by Georgina Squire and Hannah Sharp of Rosling King LLP on behalf of WWRT Limited and led by Andrew Ayres QC of Twenty Essex. Facts WWRT Limited (“WWRT”) had obtained, ex parte, a worldwide freezing order (“the WFO”) against Mr Serhiy Tyshchenko (“ST”)...
The Official Receiver applied for the making of disqualification orders under the Company Directors Disqualification Act 1986 against all of the directors who had been in office at or shortly before the charity’s collapse, together with its Chief Executive Officer, Camila Batmanghelidjh, who was alleged to have been a de...
Facts The applicant Financial Conduct Authority sought a declaration as to whether the court's leave was required for the issue of a "warning notice" against the respondent company under the Financial Services and Markets Act 2000 s.92 and s.126.The respondent had been subject to a winding-up order. The declaration was...
The court was required to determine issues in the administrations of two Lehman Brothers companies (P and L) concerning the priority of certain subordinated debts for the purpose of distributing funds in the administrators' hands. P and L were intermediate holding companies in the Lehman Brothers group. L was the...
Facts The Competition and Markets Authority (CMA) applied under the Company Directors Disqualification Act 1986 s.9A(10) for the disqualification of the defendant (M) as a director of an estate agency.The CMA had found that M's agency was one of six in the Burnham-on-Sea area of Somerset which had participated...
Summary The Insolvency and Companies Court provided guidance on the purpose of applications for public examination under s.133 of the Insolvency Act 1986, the extent of the Court’s extraterritorial jurisdiction, the role of the Court on an application for directions and the role that the creditor requesting the examination plays...