Impact of Brexit on applicable law in cross-border insolvencies

From 31 December 2020, the European Regulation on Insolvency Proceedings (the “EIR”) ceased to apply in the UK. As a result: The EIR provides the rules for when the law of the place in which the insolvency proceedings have been opened can be supplanted by another law, but only that of a member state. The … Read more

High Court refuses to strike out claim for relief under section 423 of the Insolvency Act 1986 despite lack of connecting factors between the defendant and the jurisdiction

The High Court has dismissed a strike out application in respect of a claim brought under section 423 of the Insolvency Act 1986 (“IA 1986”) in respect of an alleged transaction defrauding creditors, holding that it is not necessary to prove a freestanding connection between the defendant and England, separate from the litigation itself, in … Read more

Upcoming webinar – Litigation update

On Wednesday 4 November (2-3pm UK time), Anna Pertoldi and Maura McIntosh will deliver a webinar for Herbert Smith Freehills clients and contacts looking at developments in commercial litigation since our last update webinar, in November last year. The webinar will focus on developments relating to disclosure, witness evidence and remote hearings, as well as … Read more

Judgment handed down in FCA’s COVID-19 business interruption insurance test case

The High Court has today handed down judgment in the COVID-19 Business Interruption insurance test case of The Financial Conduct Authority v Arch and Others. Herbert Smith Freehills represented the FCA (who was advancing the claim for policyholders) in the case, which considered 21 lead sample wordings from eight insurers. Following expedited proceedings, the judgment … Read more

New series of webcasts on the Corporate Insolvency and Governance Act 2020

The new Corporate Insolvency and Governance Act 2020, which came into effect on 26 June 2020, could have a significant impact on companies in distress and their creditors, particularly landlords, suppliers, financial services providers and pension schemes. Our Restructuring, Turnaround and Insolvency team have produced a series of short, informative and user-friendly webcasts focusing on … Read more