Insolvency and bankruptcy News

3PB burns the midnight oil for claimant businesses ahead of Supreme Court decision in their favour on the FCA’s Business Interruption Insurance test case

15th January 2021

3PB Head of Chambers David Berkley QC (pictured here) and fellow commercial litigation barrister Neil Fawcett have been burning the midnight oil since Christmas ahead of today’s test case in favour of their clients, most of whom are small to medium-sized businesses, after the Supreme Court found in favour of the Financial Conduct Authority in their case against Arch Insurance and other UK insurers. Some insurers have already paid out on certain claims, but many have...

3PB Barristers have created a dedicated webpage on its website to act as a hub for the many articles, briefings and webinar and podcast recordings about lockdown laws and regulations as well as practical issues like court attendance, e-bundles, remote and hybrid hearings. The Coronavirus (COVID-19) pandemic continues to create employment, contractual and other legal challenges which are in many ways unprecedented. The impact of the virus is being felt, and in response, 3PB have...

Following the introduction of the Corporate Governance and Insolvency Act 2020 (“the CIGA 2020”) and the associated Insolvency Practice Direction, 3PB’s specialist commercial law barristers Charles Irvine and Rebecca Farrell consider winding up petitions in this context. In this article, they outline the key practical considerations for solicitors dealing with corporate insolvency during this time and how those considerations might impact the winding up of companies. Within the article some comment is made of the new Moratorium process and...

3PB’s pupil barristers Mariya Peykova, Georgina Dietrich (editor) and Gemma Ralph are authors of a new newsletter, ‘’Publications during the Pandemic’’. The newsletter has introductions from David Berkley QC, 3PB’s Head of Chambers, and Cheryl Jones, Head of Pupillage at 3PB. The newsletter focuses on the Coronavirus Act 2020 and highlights updates in the areas of Clinical Negligence, Construction, Competition and Insolvency law with focus on the regulations and laws during this unprecedented time. The...

3PB barrister Cheryl Jones writes about wrongful trading and provides an update on what's changing in the light of the current COVID-19 pandemic. Read the full article here - 'Suspension of wrongful trading provisions' by Cheryl Jones. What is wrongful trading and what are its consequences? Wrongful trading takes place when one or more Directors knows or ought to have known that the Company had no reasonable prospect of avoiding going into administration or insolvent...

Mariya Peykova, a pupil barrister at 3PB, authors this practical guide for businesses and insolvency practitioners and looks at the proposed and existing measures introduced by the government to help businesses during the coronavirus crisis. The guide also looks at the key provisions of the Temporary Insolvency Practice Direction (“TIPD”), introduced in April 2020. It outlines the impact of the new provisions and measures on the listing of hearings, including remote hearings, and offers businesses...

3PB Barristers' Property & Estates team has issued a new guide, authored by 3PB property barristers Charles Irvine and Rebecca Farrell, on the rights of commercial landlords and their tenants, both prior to the 2020 Act and now and offer practical solutions in these very challenging times for retailers and the commercial property sector. In particular, the guide deals with the existing position for commercial landlords and their tenants, such as the rights of re-entry...

3PB has issued an urgent briefing to its insolvency clients and contacts about a new Temporary Insolvency Practice Direction (TIPD) which has been introduced to provide sensible solutions for court users during the current COVID-19 pandemic. This means continued absence of court appearances in person.

The Court of Appeal has handed down its landmark judgment in Sequana, in the Insolvency sphere (BTI 2014 LLC v Sequana S.A. [2019] EWCA Civ 112). How likely does insolvency need to be, before a director must consider the interests of creditors when deciding what is in the company’s best interests? Is a dividend payment capable of amounting to a transaction defrauding creditors? John Jessup analyses the decision and considers how it changes the law....

3PB’s Commercial and Property barrister Rebecca Farrell, instructed by Ian Baker of London solicitors PGB Gitlin Baker, acted for the Petitioning Creditor Darius Khakshouri in successfully obtaining the bankruptcy of former property tycoon Kevin Cash who owed the businessman in excess of £3 million. The bankruptcy was obtained at Oxford County Court last week. The bankruptcy of Kevin Cash has attracted widespread publicity – alongside the planned sale of his £28m Oxfordshire home. Coverage includes...

When will solicitor’s working papers (as opposed to advice) attract privilege? And what is the scope of legal advice privilege (“LAP”) and litigation privilege (“LP”)? Charles Irvine (call 2010) analyses the recent case of Director of the Serious Fraud Office v. Eurasian Natural Resources Corporation Ltd [2017] EWHC 1017 (QB), its impact on its impact for civil litigation. Charles is a Commercial Law barrister who specialises in Insolvency and commercial matters. View his profile here....