Welcome back to this quarter's edition of Insolvency Insights.
In this edition, Lauren Hartigan-Pritchard shares her article on Creditor Duty, written for the London Gazette. Suky Mann also shares case studies on two particularly challenging director disqualification investigations she successfully defended. We round up this edition with details on where the team will be in the coming months for anyone who wants to catch up.
Creditor duty: what directors need to know
Lauren Hartigan-Pritchard discusses the recent case of Hunt v Singh [2023] EWHC 1784 (Ch), noting the considerations directors ought to have about the duties owed to creditors.
"As directors navigate challenging financial landscapes, understanding the creditor's duty is crucial as it can inform the director's decision-making process and significantly reduce personal liability in the event of company insolvency."
To continue reading the full article, follow the link below:
https://www.thegazette.co.uk/all-notices/content/104195
Suky Mann defends director disqualification involving two bounce-back loans.
Our specialist director disqualification lawyer, Suky Mann, secured a fantastic result for a director facing director disqualification investigations after he had obtained two Government bounce-back loans for the same company.
To read the full article, follow the link below:
Higgs LLP assist Deltron Lifts Limited with the acquisition of Dolphin Lifts (Midlands) Limited
We advised on the acquisition of Dolphin Lifts Midlands after stairlift retailer falls into administration.
Our team was delighted to assist with the purchase of Dolphin Lifts Midlands Limited, which was acquired by Birmingham-based clients Deltron Lifts.
The company fell into administration in August, with FRP Advisory's Benjamin Jones and Rajnesh Mittal appointed as joint administrators.
The acquisition has seen the preservation of jobs and the services offered within the West Midlands.
Deltron provides a wide range of services, including maintenance and repair of all types and makes of passenger and goods lifts; refurbishment, installation, testing and commission of new lifts to include modernisation and refurbishment.
The Birmingham-based firm provides services across Central England, London and the South Coat. Its acquisition of Dolphin Lifts Midlands follows its takeover of specialist mobility aids retailer Snowdrop Independent Living in March 2023.
Lauren Hartigan-Pritchard, Head of Restructuring & Insolvency comments:
"it was a pleasure to work with Lukas and his team on this, and we hope that this ensures the long-term success of Deltron across the UK."
Compensation order made against director for negligent conduct
In this article, we consider the recent case of Secretary of State for Business and Trade v Barnsby (Re Pure Zanzibar Ltd) [2023] EWHC 2284 (Ch), in which a compensation order was made against the sole director of Pure Zanzibar Limited, Mr Barnsby.
The case of Pure Zanzibar Limited is only the second case concerning compensation orders since they were introduced in 2015, and, usefully, it provides clarity that they can be a tool used by the Insolvency Service in cases of negligent conduct by a director.
To read the full article, follow the link below:
To view the full article, click here.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
