Financial Disputes in UK Law
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Re Wools (LHF) Ltd
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I am far from saying that in the ordinary case that is not a most weighty consideration. But here this is a company which it has never been suggested on either side has any assets at all except this one claim. Therefore I do not think that delay is a matter which I should have given much weight to here.
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Re Micklethwait
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Conversely, where there is a valid debt and the correct formalities have been complied with, generally that will lead to the making of an order. A petition in those circumstances will generally only be adjourned for a short time, if there is a reasonable prospect of the debtor in effect coming to terms with the petitioner, by paying the debt and thus removing the petition—see Re: Gilmartin [1989], 1 WLR 513.
Earlier cases as to when petitions have been adjourned or dismissed under such a discretionary power are of no re-assistance, except in drawing to my attention the fact that I have a discretionary power. It is the facts of each case, which indicate how, if at all, the discretion should be exercised.
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FKI Engineering Ltd and Another v De Wind Holdings Ltd and Another
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First he says that a claim for the purposes of Article 6(1) must be one which can properly be brought in the domestic court. The claim against the bankrupt was time-barred but the ECJ held that nevertheless the claim against the guarantor could proceed under Article 6 (1) which was not affected by a procedural bar contained in a national provision.
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HM Revenue and Customs v Cassells
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Even if he had been minded to rescind the bankruptcy order he should have considered how to protect the interests of the other members of the same class of unsecured creditor whether by a conditional order, the condition being that they should be paid in full or, as in Fitch v. Official Receiver, restoration of the original petition so that one of them, if remaining unpaid, might obtain an order for substitution and pursue the petition for a further bankruptcy order.
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Thornhill (David) (Trustee in Bankruptcy of Clive William Atherton) v (1) Atherton (Clive William) (2) Atherton (Linda Margaret) (3) Myerson (Geoffrey)
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It seems to me that the gap in that argument is that it deals fairly with the position as between Mr Atherton, Mrs Atherton and maybe also the petitioning creditor, but it is entirely irrelevant to the position of the trustee in bankruptcy whose costs have been properly incurred, subject of course to being quantified in the appropriate amount, and is entitled, as in Mellor v Mellor, to have security for the discharge of his costs.
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Sykes & Son Ltd v Teamforce Labour Ltd
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There is no doubt that the general rule in CPR 44.3, that the losing party should pay the costs of the successful party in litigation applies with added force in the context of winding up petitions.
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THE INSURANCE OMBUDSMAN BUREAU AND FINANCIAL SERVICES DISPUTES — AN OBITUARY?
This paper examines what the financial services industry expects from the Insurance Ombudsman Bureau. It measures the IOB's success in meeting these expectations against the yardsticks of public co...
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CITY DISPUTES PANEL: SPECIALIST ARBITRATION FOR THE FINANCIAL SERVICES INDUSTRY
This paper, based on an interview with Richard Freeman, describes the creation and development of the City Disputes Panel (CDP). It is the initiative of Richard Freeman, a solicitor and former merc...
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The United Kingdom's Immunity from Seizure Legislation
The UK's Department for Culture Media and Sport (DCMS) has introduced legislation to provide immunity from seizure for cultural objects on temporary loan from other countries to approved museums an...
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Prospects of an online dispute resolution framework for Islamic Banks in Malaysia. An empirical legal analysis
Purpose: This study aims to examine the prospects of using an online dispute resolution (ODR) platform for resolving relevant Islamic banking disputes in the usual banker–customer relationship in M...
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Brexit: New Arbitration Alternatives for Financial Disputes
Recent innovations at a number of arbitral institutions have brought into sharp focus arbitration options for post Brexit financial disputes. The English Arbitration Act is in ...
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New UK Financial List for Resolution of Complex Financial Disputes
The UK is to introduce a new means of resolving high value or complex financial disputes, to be known as the Financial List. This will be a specialist list for the following types of claims: ...
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Special High Court Procedures Proposed for Financial Markets Disputes
In July 2014, the Lord Chief Justice of England and Wales announced plans to closely review what can be done to meet the needs of court users in financial cases to ensure that the Courts “are provi...
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Financial Markets Disputes and Regulatory Update - January 2018 - Regulatory developments
Senior managers regime, certification regime and conduct rules (SMCR) - Individual Accountability: Extending the Senior Managers & Certification Regime to all FCA firms, and extendin...