Summary Statutory interest payable on proven debts from a surplus 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 income tax. Facts The administrators of Lehman Brothers International (Europe) appealed...

Summary A local authority which had sold land granted to it under the Schools Sites Act 1841 s.2 held the proceeds of sale on trust for the original grantor's descendants. Section 14, which prevented the statutory right of reverter, operated only where the land was continuing to be used for educational purposes...

Summary The appellant's decision to suspend the progress of its claim against the respondent while related litigation was taking place in Liechtenstein should not have led to the striking out of the claim. Facts The appellant appealed against a deputy master's decision striking out its claim against the respondent.The...

Summary The court declared in the context of a dispute over the chairmanship of the Libyan Investment Authority that the question of which body represented the executive authority and government of Libya fell to be determined, if it arose before the English court, under English law, and that the executive...

Summary With a view to satisfying a substantial judgment debt owed to the petitioner, it was appropriate to appoint receivers by way of equitable execution over certain assets belonging to the first and second respondents. Facts The petitioner sought the appointment of a receiver by way of equitable execution over...

Summary A tribunal judge had made a serious procedural error in finding that a bankruptcy petition was unopposed because the notice of opposition had been filed late, and that accordingly he had jurisdiction to hear the petition. He should have adjourned the hearing and transferred it to a specialist court,...

Summary A common law duty to have regard to creditors' interests could be triggered when a company's circumstances fell short of actual insolvency. Such a duty arose when the directors knew or should have known that the company was or was likely to become insolvent. In that context, "likely" meant...

Summary A contract for a property purchase was not void or voidable despite the vendors' agreement to pay the acquisition agent a fee without the buyer's knowledge. The agent's relationship to the buyer was not such as to engage the law on bribery and secret commissions, so the agreement could...

Successfully obtaining ex parte freezing and proprietary injunctions against former agents (and their associates) in claims for breach of fiduciary duty (secret profits and diversion of business opportunities), dishonest assistance, knowing receipt and conspiracy arising out of international titanium trading (Business List (ChD), January 2019.