Insolvency Litigation: Recent Cases And Issues - May 2018

In our update this month we take a look at some of the recent cases that will be of interest to those involved in insolvency litigation. These include;

• A decision of the Chancery Court which confirms the rule against contractual penalties will not apply to the terms of a company's own voluntary arrangement;
• Some guidance on the priority of payments in insolvency, in a case where administrators' remuneration was paid out of the company's accounts;
• Consideration by the Court of Appeal as to the correct approach to determining liability for breach of trust involving avoided transactions.

Our insolvency experts have reviewed the decisions and tell you what you need to know.