EUROSAIL DECISION IN THE SUPREME COURT

The Supreme Court has today handed down judgment in the BNY Corporate Trustee Services Limited v Eurosail-UK 2007-3BL PLC appeal [2013] UKSC 28 concerning the meaning of Section 123(2) of the Insolvency Act 1986 (the “Act”).  The Supreme Court has unanimously dismissed the appeal (Lords Hope, Walker, Mance, Sumption and Carnwath).

All parties before the Supreme Court were represented by members of South Square (Gabriel Moss QC, Robin Dicker QC, Jeremy Goldring QC, David Allison and Richard Fisher).  Members of chambers involved at earlier stages of the litigation included Richard Sheldon QC and Daniel Bayfield.  Please click on the links for our press release and summary of the judgment.

SUPREME COURT JUDGMENT

There was considerable representation from South Square barristers at the recent Supreme Court case between the Joint Administrators of Heritable Bank plc (Respondent) and The Winding-Up Board of Landsbanki Islands hf (Appellant).  Barristers involved included David Alexander QC, Stephen Robins (for the appellant) and Gabriel Moss QC, Martin Pascoe QC and Georgina Peters (for the respondent).  To read the judgment, please click here.

NEW SILKS AT SOUTH SQUARE

South Square is delighted to announce that Mark Arnold, Jeremy Goldring and Lucy Frazer have all been appointed to Queen’s Counsel in the 2013 round; Professor Ian Fletcher has also been appointed as an honorary Silk.

These appointments are well deserved and we wish them all continued success in their careers at the Bar.

SOUTH SQUARE – WINNERS AT THE CHAMBERS UK BAR AWARDS 2012

South Square attended the Chambers UK Bar Awards 2012 held at the Park Lane Hilton, London on Thursday 25th October. The event was hosted by Clive Anderson, the TV presenter and former barrister.

South Square is thrilled to have won the Set of the Year in the Insolvency / Corporate Restructuring category with Chambers Director, Ron Barclay-Smith, collecting the award on behalf of Chambers.  In addition to receiving Set of the Year, Robin Dicker QC was awarded Silk of the Year and Dan Bayfield received Junior of the Year.

EUROPEAN COMMISSION APPOINTMENT

Gabriel Moss QC has recently been appointed by the European Commission to advise it on possible changes to the European Insolvency Regulation.

INSOL EUROPE DEBATE AT THE SUPREME COURT

INSOL Europe hosted a debate at the Supreme Court building in Westminster on Friday 6th July about the European Commission’s review of the EC Regulation.  South Square barristers Gabriel Moss QC, David Marks QC and Felicity Toube QC took part in the discussions which debated the motion that detailed substantive and technical changes to the European Insolvency Regulation, as proposed by INSOL Europe, are now required.

This unique event was an important opportunity to fully debate the arguments for and against significant legislative change and to influence thinking, as the principal legislation governing European cross-border insolvency is reviewed.  It was very well attended and included representatives from major solicitor firms, accountancy practices and educational establishments.

CASE NOTE: Raithathwa v Williamson [2012] EWHC 909 Ch, Deputy Judge Mr Bernard Livesey QC

In this recently reported case the Deputy Judge held that a trustee in bankruptcy is entitled to require an undischarged bankrupt to elect to take up his pension rights so that he can obtain an income payments order over such rights under s 310 of the Insolvency Act 1986, even if the bankrupt is receiving no pension at the time.

John Briggs has written a critique of the judgment published in Insolvency Intelligence 2012, Vol 25, No 5, p 65. Press here for the link to the article.

Christopher Brougham QC appeared for the trustee in bankruptcy.

The decision is the subject of an appeal by the bankrupt to the Court of Appeal.

REVISIONS TO EUROPEAN INSOLVENCY REGULATIONS PUBLICATION DUE SOON

The “Revision of the European Insolvency Regulation – Proposals by INSOL Europe” will be available soon.  This booklet has been developed for the amendment of the European Insolvency Regulation and was produced by INSOL Europe practitioners – including David Marks QC – and academics with pan-European experience and expertise. INSOL Europe hopes that these proposals will stimulate debate both inside and outside the EC.

GABRIEL MOSS QC APPOINTED AS MEMBER OF THE ‘EXPERT GROUP ON CROSS-BORDER INSOLVENCY’

We are pleased to announce that the EU Commission has appointed Gabriel Moss QC to be a member of the ‘Expert Group on Cross-Border Insolvency’ advising the EU on the reform of the EC Regulation on insolvency proceedings 1346/2000.  This is a mandatory European statute governing  jurisdiction, choice of law and recognition/enforcement in insolvency proceedings concerning debtors based in the EU that have operations in more than one member state.  The Regulation provides for main proceedings in the EU Member State where its “centre of main interests” (COMI) is located.   Proceedings elsewhere in the EU are purely local in effect and, in any case, subservient to the main proceedings.  Gabriel Moss QC is the co-editor and author of Moss Fletcher and Isaacs: The EC Regulation on insolvency proceedings (2^nd ed, 2009).

SOUTH SQUARE AT THE SUPREME COURT

The hearing of the 2 appeals in the case of New Cap and Rubin (New Cap Reinsurance Corp & Rubin & Lan v Eurofinance SA & Anor & AE Grant & Ors), were recently held in the Supreme Court.  This is the leading cases on cross-frontier insolvency currently before the courts and involved 4 silks and 3 juniors from South Square – the case highlights South Square’s undisputed expertise in insolvency matters.

The Members of Chambers involved in this case are – Gabriel Moss QC, Robin Dicker QC, Robin Knowles QC, Barry Isaacs QC, Tom Smith, Stephen Robins and Charlotte Cooke.