Summary Statutory interest payable on proven debts in an administration under the Insolvency (England and Wales) Rules 2016 r.14.23(7) amounted to "yearly interest" under the Income Tax Act 2007 s.874. The interest was therefore subject to deductions of basic rate income tax. Facts HMRC appealed against a decision that statutory interest payable...

Summary In determining whether to allow the disclosure of documents concerning a capital reduction hearing to a non-party, the court followed the open justice principle expounded in R. (on the application of Guardian News and Media Ltd) v City of Westminster Magistrates' Court [2012] EWCA Civ 420, where the default position was...

Summary It was in the public interest for the court to determine whether an official receiver who had obtained a without notice recognition order under the Cross-Border Insolvency Regulations 2006 had breached his duty of full and frank disclosure, even though the parties had agreed that the order should no longer...

Summary Where a Companies Act 2006 s.994 petition did not contain any allegations of unfairly prejudicial misconduct on the part of a deceased shareholder, who was a respondent to the petition, references to the deceased's estate in the prayer for relief were struck out. In addition, the relief sought against the...

Summary A judge had been correct to find that a house and the proceeds of its sale were held on a discretionary trust. Although the trust deed did not refer to the house, there was sufficient in the background circumstances to lead a reasonable person to believe that the settlor...

Summary Facts Held Application granted

Summary The court rejected a claim that a Rabbi living in Jerusalem had entered into a partnership with a property developer in relation to a London development. Facts The court was required to determine whether the claimant and first defendant had entered into a partnership in relation to a property...

Summary It was for the legislature, not the courts, to decide whether insurers who had funded an insolvent company's successful claim for damages should be entitled to priority payment of their premiums ahead of unsecured and preferential creditors, by analogy with solicitors' liens. It would be inappropriate for the courts...

Summary Where a party to a swap agreement had gone bankrupt and the bankruptcy was a default event but the other party had chosen not to serve an early termination notice, the agreement had continued in full force and effect. Consequently, when the other party later committed a default event,...