Log in or register
Share on LinkedInShare on LinkedIn

ARTICLE · 07 JULY 2023

Limitless: Liquidators, Injunctions And Cross-Undertakings In Damages

Collas Crill
Collas Crill
Contributor
Collas Crill

Collas Crill

Firm Details: Chief Executive Officer: Jason Romer Managing Partners: Bermuda: Lilla Zuill, BVI:...

View firm profile
Explore more from Collas Crill

The English Court of Appeal (the Court of Appeal) has recently issued a judgment which will be of particular interest to liquidators and those that they pursue in the case of Hunt v Ravneet Ubhi [2023] EWCA Civ 417.

United KingdomInsolvency/Bankruptcy/Re-Structuring
Simon Hurry
Simon Hurry
Stephen Leontsinis
Stephen Leontsinis
Michael Adkins
Michael Adkins
Author LinkedIn connections

The English Court of Appeal (the Court of Appeal) has recently issued a judgment which will be of particular interest to liquidators and those that they pursue in the case of Hunt v Ravneet Ubhi [2023] EWCA Civ 417.

Background

The case concerns a creditors' (the Petitioners) petition to wind up Black Capital, alleged to be an insolvent partnership between Mr Sarju Patel (Mr Patel) and Mr Ravneet Ubhi (Mr Ubhi). The same day that the petition was presented, without notice applications were made for the appointment of a provisional liquidator, Mr Stephen Hunt (the Provisional Liquidator), and associated freezing orders. The applications were successful as follows:

  • the Provisional Liquidator was appointed; and

We operate a free-to-view policy, asking only that you register in order to read all of our content. Please login or register to view the rest of this article.

Register for freeORLog in

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

View source

Related Articles

Legal Intelligence Newsletters: sign up for the latest legal and regulatory news on your chosen topics

Read more about

Related Comparative Guides

See more popular content from

Article

Woodville Collapse And Regulatory Reform – Litigation Funding In The Spotlight

The collapse of Woodville Consultants Ltd has exposed significant vulnerabilities in the rapidly expanding litigation funding market, which operates largely outside mainstream financial regulation. With nearly £300 million owed to retail investors and questionable lending practices to law firms, the case raises critical questions about investor protection, regulatory oversight, and the future balance of power in funded litigation.
United KingdomInsolvency/Bankruptcy/Re-Structuring
RPC
RPC
Article

Hunkemöller: English Court Stays Liability Management Exercise Litigation Pending Judgment In Parallel New York Proceedings

The English High Court has stayed proceedings challenging Hunkemöller's liability management exercise pending judgment in related New York litigation. This decision examines the limitations of multi-jurisdictional litigation strategies in cross-border restructurings and the enforceability of exclusive jurisdiction clauses for beneficial noteholders. The ruling provides critical guidance on the sequencing of claims across different jurisdictions when challenging complex liability management exercises.
United KingdomInsolvency/Bankruptcy/Re-Structuring
A&O Shearman
A&O Shearman
Article

A Guide To Misfeasance Claims Against Directors

Directors of insolvent companies may face misfeasance claims when liquidators or administrators investigate potential misuse of company funds, breaches of fiduciary duties, or prioritizing personal interests over creditors. Understanding the legal framework under section 212 of the Insolvency Act 1986, common allegations, and available defenses is crucial for directors navigating these serious investigations that can result in personal liability and disqualification.
United KingdomInsolvency/Bankruptcy/Re-Structuring
Weightmans LLP
Weightmans LLP
Article

What Is An Individual Voluntary Arrangement (IVA)? A Guide For Debtors And Creditors

An Individual Voluntary Arrangement (IVA) is a formal debt solution that allows individuals to repay creditors through affordable monthly payments over five to six years, with remaining balances typically written off. This legal alternative to bankruptcy requires approval from creditors holding at least 75% of the debt value and is supervised by a licensed insolvency practitioner throughout its duration.
United KingdomInsolvency/Bankruptcy/Re-Structuring
Tees Law
Tees Law
Article

High Court Rules That Administrators May Be Able To Pay Administration Expenses And Litigation Funding Ahead Of “super Priority” Moratorium Debts

The High Court has determined that administrators can enter into litigation funding arrangements allowing funders to be repaid from litigation proceeds ahead of moratorium debts with "super priority" status, provided this aligns with the administration's purpose and the administrators' duties. This ruling addresses a critical question about the interplay between protected moratorium creditors and the practical realities of funding litigation in insolvency proceedings.
United KingdomInsolvency/Bankruptcy/Re-Structuring
Herbert Smith Freehills Kramer LLP
Herbert Smith Freehills Kramer LLP
Article

Mental Health Moratorium Fails To Block Receiver Sale

The High Court has clarified the interaction between mental health crisis moratoriums under the Debt Respite Scheme and secured lending enforcement. When property security covers a company's debt rather than an individual's personal liability, receivers can proceed with sales despite the moratorium. This decision provides crucial guidance for insolvency practitioners and lenders navigating the complex intersection of mental health protections and security enforcement.
United KingdomInsolvency/Bankruptcy/Re-Structuring
Mills & Reeve LLP
Mills & Reeve LLP
Article

Enforcing Security: Court Of Appeal Warns On ‘improper Purpose’ In Administrator Appointments

The Court of Appeal's decision in Glint Pay Ltd v Baker examines whether secured lenders can appoint administrators when their primary motive is a hostile takeover rather than debt recovery. This case explores the boundaries of legitimate enforcement action, particularly when a company remains solvent before acceleration, and considers whether an appointment made for a solely improper purpose can be challenged and set aside.
United KingdomInsolvency/Bankruptcy/Re-Structuring
Gateley Legal
Gateley Legal
Article

New CRS Principal Point Of Contact Requirement For Cayman Financial Institutions

As part of the Cayman Islands' implementation of the OECD's enhanced Common Reporting Standard (CRS) framework, commonly referred to as CRS Regime 2.0, the Tax Information Authority (International Tax Compliance) (Common Reporting Standard) (Amendment) Regulations, 2025 introduced a new requirement for all Cayman Financial Institutions (FIs) to appoint a Principal Point of Contact (PPOC) based in the Cayman Islands.
Cayman IslandsTax
Collas Crill
Collas Crill