Insolvency – examples of mediations undertaken
An action brought by liquidators against former directors alleging undervalue transactions, wrongful payment of dividends and seeking repayment of loans (c. £1.5 million).
Mediation of a claim by joint liquidators under section 212 IA 1986 against former directors and alleged shadow directors of various group companies arising out of a failed tax planning scheme in which defences based on the Duomatic principle and section 1157 CA 2007, amongst others, were being raised (c. 8 million).
A claim by a trustee in bankruptcy to overturn a Property Adjustment Order involving complex issues concerning the inter-relationship of the Insolvency Act and Matrimonial Causes Act, including an analysis of vitiating factors (and other issues) in line with Hill v Haines.
A claim by liquidators against various professional services firms arising out of the collapse of a litigation funding scheme (c. £12 million).
A claim by a liquidator seeking recovery of alleged undervalue transactions (c. £10 million).
Mediation of a claim by a liquidator to expunge a proof of debt under IR 4.85.
A claim by administrators of a company against a director based on breach of warranty, the defence being based on misrepresentation as to the effect of the warranty.
A multi-party mediation of a dispute involving claims against various professional services firms in four separate pieces of litigation arising out of the failed rescue of an insolvent company.
Numerous mediations involving actions by liquidators and administrators seeking to recover money from former directors and trading partners of insolvent companies.
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