In a recent judgment, the Insolvency and Companies Court has analysed the principles applicable to waiver of privilege in the context of applications in insolvency proceedings. Duncan McCombe represented the successful applicant, Mrs Yurova, instructed by Gresham Legal.
Mrs Yurova’s husband, Mr Yurov, was made bankrupt on his own petition following a judgment against him in the Commercial Court for hundreds of millions of dollars.
Mr Yurov’s trustees in bankruptcy applied under s.366 Insolvency Act 1986 for access to Mrs Yurova’s bank statements. In the evidence in support of their application, the Trustees relied on advice that they had received on the Russian law of matrimonial property. Mrs Yurova applied for that advice to be disclosed to her along with the instructions leading to that advice. The Trustees opposed Mrs Yurova’s application. However, Deputy ICC Judge Parfitt ordered disclosure.
The judgment, which can be found here, contains a useful discussion of waiver of privilege in the context of insolvency proceedings where there is no general right to disclosure
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