Podcast Location:
Download it here [file size: 21.7 MB]
Categories:
Insolvency & Restructuring
CPD Points:
Up to 1 point. details »

Due to the difference in guidelines between the SRA and the Bar Standards Board, CPD points are awarded differently for Solicitors, Barristers and Legal Executives:

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:

This podcast aims to provide junior practitioners with a guide to the specific legal and procedural issues relating to winding up petitions where the debt is disputed. Advice is offered as to the actions which a company can take if presented with a winding up petition for a disputed debt. The podcast highlights the possible sanctions where a petition is improperly brought. The approach for respondents is examined in relation to different forms of dispute.

Outcomes:
After completing the course you will:
  • Understand the scope of the winding up jurisdiction where a debt is disputed;
  • Recognise the various tests applied by the courts in relation to different legal disputes;
  • Recognise when seeking a winding up petition for a disputed debt will amount to an abuse of process;
  • Appreciate the business risks resulting from the presentation and advertisement of a winding up petition;
  • Be aware of procedural strategies for minimising these risks;
  • Understand the costs sanctions imposed against unsuccessful petitioners and respondents.
Level:
Intermediate Difficulty: 3 of 5
Sources and References:
  • Insolvency Act 1986, sections 4.1, 13.12, 124, 127 and 129;
  • Insolvency Rules 1986, 7.1 and 7.2 of Schedule 4;
  • In Re Bayoil S.A. [1999] 1 BCLC 62;
  • Popely v Popely [2004] EWCA Civ 463.

In this podcast, Alex Barden of Erskine Chambers discusses bringing and resisting a winding up petition for a disputed debt. The podcast examines the circumstances in which it is proper to present a winding up petition and the court's approach when a respondent raises a potential dispute. Different forms of dispute are examined, specifically part-payments, legal and equitable set-offs and cross-claims. The business risks connected to winding up petitions are identified and practical ways of minimising these risks are discussed. The costs consequences for an unsuccessful petitioner or respondent are outlined.

Podcast Added: 1/7/2008

Podcast last reviewed: 2012-01-10

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