Assignation of Debt
Whilst taking a well-earned (in my humble opinion) break, abroad (yes, travel necessitating a passport!), I had the opportunity to read the decisions in five conjoined cases handed down by the Court of Appeal in England on 18th November. Four involved Promontoria entities (the name that Cerberus uses for its distressed debt acquisitions) and one […]
The interplay of insolvency and POCA claims
I wanted to draw to your attention a very interesting (and, some would say, surprising) decision from the Supreme Court on Wednesday (3rd November). In the case of Crown Prosecution Service -v- Aquila Advisory Ltd, the Supreme Court decided that a company’s claim against its former directors for breach of their fiduciary duty took precedence […]
