Retention of Title clauses in Supply Contracts serve the useful purpose that if a customer fails to pay, particularly in case of insolvency, the supplier can get his goods back, provided the contract makes it clear that title is not to pass until payment is made and the other requirements for an effective Retention of Title clause are in place.

On 9 January 2014, His Honour Deemster Doyle (the Isle of Man's Chief Justice) issued his judgment in the case Capita v Gulldale.

In the recent case of HSBC Bank plc v Tambrook Jersey Limited [2013] EWCA Civ 576, the English Court of Appeal issued guidance in respect of when an English Court will assist a foreign Court in insolvency matters.

The recent decision put before the courts the question of whether sanction should be given to a liquidator to appoint lawyers in the Isle of Man and various jurisdictions worldwide.

The Isle of Man High Court has issued a landmark decision confirming for the first time in a reported judgment the considerations that the Isle of Man Court will adopt

As the global economic storm continues to rage, in a timely court judgment the Isle of Man Court has recently reiterated its willingness to give assistance in cross border insolvency situations.

The scheme must represent a genuine compromise by which the members and creditors obtain some advantage that compensates them for the alteration of their rights.

His Honour Deemster Doyle recently handed down judgment in a case which considered the legal principles applicable when a party seeks to challenge decisions made by a court-appointed liquidator during the liquidation of a company.

Insolvency law in the Isle of Man has failed to be reformed on different occasions in the last twenty years in spite of Government initiatives.

On 6 March 2014, Mann J placed Gulldale Limited into administration in England.

With the Companies Bill 2013, which plans to consolidate and update the Isle of Man Companies Acts 1931- 2004 and a proposed new Insolvency Bill in the offing, the time is ripe for reform of the Isle of Man corporate insolvency test, found at section 163(1) of the 1931.

In the recent case of Lombard Manx Limited v The Spirit of Montpelier Limited (CHP 2014/23), the Isle of Man High Court considered the law in respect of when a creditor will be entitled to a winding up order "virtually as of right" against a defaulting debtor.

The Isle of Man is able to offer an impressive variety of options for institutional and other clients seeking to create or restructure corporate vehicles to minimize risk to, and liability of, underlying assets.

The Island recently played its part in concluding a long running legal case in respect of an insolvent group of companies. In doing so the Manx Court (in the guise of the Privy Council) has rendered a landmark decision in clarifying the law of international cross border insolvency.

Claire Corkish from Appleby's Isle of Man Dispute Resolution team attended the INSOL Europe Annual Congress in Athens this October.

Whether it is legal advice, fiduciary or accounting services, the Cains group has a strong reputation for its restructuring and insolvency work and its ability to provide a seamless service to its clients.

On the 6th March 2014, Mann J placed Gulldale Limited into administration in England. In so doing, Gulldale became the first Isle of Man incorporated company with the centre of main interest in the Isle of Man to be placed into administration in England.

In May 2013, the Supreme Court handed down judgment in the case of "BNY Corporate Trustee Services Limited and others v Eurosail-UK 2007-3BL PLC".

To talk of an insolvent trust is, of course, a misnomer, a trust is not a separate legal entity and cannot, as a matter of law, be insolvent.

The Isle of Man High Court issued useful guidance on the procedure and principles applicable to payment of provisional liquidators' fees in a protracted winding up case.