The Administrators sought directions in relation to the treatment of redundancy payments which will be due if the Administrators terminate the contracts of certain employees of the Companies. Held: The liability of administrators to pay out for redundancy of unfair dismissal claims by employees during the period of administration was not a proper expense of … Continue reading Allders Department Stores Limited (In Administration) -In the Matter of the Insolvency Act 1986: ChD 16 Feb 2005
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A bankrupt’s present entitlement to compel payment of pension benefits fell to be included in the assessment of his income within the meaning of section 310(7) of the Insolvency Act. Judges: Bernard Livesey QC Citations: [2012] EWHC 909 (Ch), [2012] 1 WLR 3559, [2012] BPIR 621, [2012] WLR(D) 115, [2012] 3 All ER 1028 Links: … Continue reading Raithatha v Williamson: ChD 4 Apr 2012
OR’s appeal from dismissal of order for income payments with an IPO. Judges: Warren J Citations: [2013] EWHC 4594 (Ch) Links: Bailii Statutes: Insolvency Act 1986 310 Jurisdiction: England and Wales Insolvency Updated: 23 July 2022; Ref: scu.522668
Private school fees might well be a reasonably necessary expenditure for bankrupt to be allowed when assessing what income needs he has before ordering income payment. No general rule. Citations: Times 04-May-1998, Gazette 20-May-1998 Statutes: Insolvency Act 1986 310 Jurisdiction: England and Wales Insolvency Updated: 18 July 2022; Ref: scu.82154
The court was asked: is it a sufficient ground for refusing to make an income payments order under section 310 of the Insolvency Act 1986 in respect of a bankrupt that sums received under any order will not (or are unlikely to) enable a distribution to be made to the bankrupt’s unsecured creditors? Judges: Newey … Continue reading The Official Receiver v Negus: ChD 16 Dec 2011
A lump sum payable from a pension fund to bankrupt before his discharge was to be treated as income. Where bankrupt had sufficient other income he could be made subject to an income payments order. Citations: Times 03-Aug-1998 Statutes: Insolvency Act 1986 310(7) Jurisdiction: England and Wales Insolvency Updated: 09 April 2022; Ref: scu.82775
No obligation on bankrupt to draw on pension fund The trustee in bankruptcy appealed against a decision dismissing his application for an income payments order pursuant to section 310 of the 1986 Act in respect of income which might become payable to the respondent from his personal pension policies, were he to exercise his contractual … Continue reading Horton v Henry: CA 7 Oct 2016
A judgment creditor, applied for an order requiring Mr Brewster, his judgment debtor, to elect to draw down a lump sum from his pension in order to enable the judgment creditor to obtain a third party debt order against the pension trustees. Held: Mr Moss granted an injunction under section 37(1) of the 1981 Act … Continue reading Blight and Others v Brewster: ChD 9 Feb 2012
The revenue appealed against refusal of its petition for the winding up of the company for non-payment of a VAT assessment. The company said that the assessment was disputed. The revenue said that the company had been run for the purpose of submitting false VAT Input tax claims, and suppressing Output tax invoices. Held: The … Continue reading Revenue and Customs v Rochdale Drinks Distributors Ltd: CA 13 Oct 2011
The High Court may always choose to appoint a new supervisor of a voluntary arrangement. Citations: Times 03-Mar-1997 Statutes: Insolvency Act 1986 108(1) Jurisdiction: England and Wales Insolvency Updated: 17 June 2022; Ref: scu.82310
A retirement annuity or personal pension was part of a bankrupt’s estate before the recent Act, and vested immediately in the trustee on the bankruptcy. As such there was no need to make application to the court under s310 for an income payment order before those assets could be made available to the creditors. Acts … Continue reading Dennison v Krasner, Lesser, Lawrence: CA 6 Apr 2000
At the date of the bankruptcy the bankrupt was entitled to a pension, payable in the future on his attaining the age of 65 years. He was aged 61 when the bankruptcy order was made, and 64 when it was discharged. The trustee claimed to be entitled to elect under the policy to commute part … Continue reading In Re Landau (A Bankrupt): ChD 1 Dec 1996
Appeal by the petitioning creditor, National Asset Loan Management Limited (‘NALM’), against the orders of Chief Registrar Baister dated 23rd June 2014, adjourning NALM’s bankruptcy petition and making directions on an application dated 20th June 2014 by the debtor, Mr Cahillane, brought under s.375 of the Insolvency Act 1986 Kevin Prosser QC [2015] EWHC 62 … Continue reading National Asset Loan Management Ltd v Cahillane: ChD 20 Jan 2015
The trustee in bankruptcy sought to oblige the bankrupt to make a capital draw on pension fund assets in order to support an Income Payment Order. Held: The judge dismissed the application for an IPO. The court had no power under section 310 of the 1986 Act to make an income payments order in respect … Continue reading Horton v Henry: ChD 17 Dec 2014
Commercial Sense Used to Interpret Contract The Court was asked as to the role of commercial good sense in the construction of a term in a contract which was open to alternative interpretations. Held: The appeal succeeded. In such a case the court should adopt the more, rather than the less, commercial construction, applying the … Continue reading Rainy Sky Sa and Others v Kookmin Bank: SC 2 Nov 2011
The appellant sought to recover overpayments of benefits and Social Fund Loans, after the respondent had had a Debt relief order. Held: The Secretary of State’s appeal failed. The ‘net entitlement principle’ argued for did not exist. The entitlement is a statutory one, and any liability to repay is separate and independent, being only a … Continue reading Secretary of State for Work and Pensions v Payne and Another: SC 14 Dec 2011