Podcast Location:
Download it here [file size: 27.9 MB]
Categories:
Insolvency & Restructuring
Civil Procedure
CPD Points:
Up to 1 point. details »

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Regulated by the Solicitors Regulation Authority:
Listen and pass the quiz: Gain 1 CPD point (60 minutes)
Listen only, gain ½ a CPD point (30 minutes)

Regulated by the Bar Standards Board:
Listen and pass the quiz: Gain 1 accredited CPD point (60 minutes)

Regulated by ILEX:
Listen and pass the quiz: Gain 1 CPD point (60 minutes)
Listen only, gain ½ a CPD point (30 minutes)

Cost:
  • FREE
Length:
30 minutes of audio
(+ optional 5 minute online quiz)
Plays on Computer:
Yes Downloadable as MP3:    Yes
Contributor(s):
Course Aims:

The podcast aims to provide a comprehensive introduction of how to prepare for proceedings against an insolvent party.

Nick Gray firstly sets out the issues that arise during cross border insolvency and discusses recent cases and the implications of the enforcement of the UNITRAL Model Law.

The second part focuses on advising claimants in instances when a defendant becomes insolvent. Following on from this discussion, the final part provides guidance on responding to circumstances when the claimant becomes insolvent. For both insolvent defendants and claimants, the podcast discusses the likelihood of a Stay of proceedings being issued, the duties of the office holder during the insolvency and whether an application for security of costs will succeed.

The podcast also provides practical advice on the core issues that practitioners ought to be consider; such as ensuring adequate funding to defend or advance a claim, the possibility of recoverability of costs and how to take a cost-efficient approach when deciding whether to advance a claim against an insolvent party.

Outcomes:
After completing the course you will:
  • Provides an introduction to the wider context in which insolvency proceedings often take place through considering the implications of cross border insolvencies;
  • Outlines recent insolvency cases and the implications of the introduction EC Regulation 1346/2000 and the UNCITRAL Model Law for cross-border insolvencies;
  • Provides practical advice on strategies to ensure that parties are able to protect their position when the opponent becomes insolvent prior to or during proceedings;
  • Considers the issue of domestic insolvency when the defendant is insolvent and likewise when the claimant becomes insolvent;
  • Provides practical advice and guidance on whether a stay will be issued, the interpretation of the Insolvency Rules, the role of office holders during the proceedings and funding options.
Level:
Complex Difficulty: 4 of 5
Classification:
Case Update
Legal Principles
Practical Guide
Sources and References:
  • Syska (Elektrim SA) v Vivendi Universal SA and Ors [2009] EWCA Civ 677;
  • Jefferies International Ltd v Landsbanki Islands HF [2009] EWHC 894 (Comm);
  • In the matter of Swissair Schweizerische Luftverkehraktiengesellschaft [2009] EWHC 2009 (Ch);
  • Swissair Schweizerische Luftverkehraktiengessellschaft [2009] EWHC 2099 (Ch);
  • Re Atlantic Computer Systems Plc [1992] Ch 505;
  • Innovate Logistics Limited (in administration) v Sunberry Properties Limited [2008] EWCA Civ 1261;
  • Re Paramount Airways Ltd [1990] Ch 744;
  • Staffordshire Gas v Coke [1893] 3 Ch 523;
  • Forster v Wilson [1843] 12 M&W 191;
  • Stein v Blake [1996] AC 243;
  • Alliprandi v Griggith Vintners Pty Ltd [1991] 9 A.C.L.C;
  • Re Wilson Lovatt & Sons Ltd [1977] 1 All ER 274;
  • Northampton Coal, Iron & Waggon Co v Midland Waggon Co [1878] 7 Ch. D. 500, CA;
  • Smith v UIC Insurance Co Ltd [2001] BCC 11;
  • Arbitration Act 1996 s38;
  • Insolvency Rules 1986 rr 2.85(4), 4.90(4), 13.12;
  • Insolvency Act 1986 ss 130(2), 167(1) (a), Sch.1 paras (5)-(6), Sch B1 para 43(6);
  • UNCITRAL Model Law for Cross-Border Insolvencies;
  • Cross-Border Insolvency Regulations 2006;
  • The Lugano Convention on Jurisdiction and the Enforcement of Judgments in Civil and Commercial Matters;
  • CPR Part 25.
Tags:

In this podcast, Nick Gray, a Partner at Slaughter and May discusses how to prepare for the insolvency of one of the parties during the litigation. Nick specifically focuses on the effects of cross border insolvency and insolvency where the claimant or defendant goes insolvent in England and Wales. The podcast offers practitioners a practical overview of the factors that ought to be considered prior to, during and after proceedings against an insolvent party.

Podcast added: 12/08/10

Podcast last reviewed: 2011-05-27

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