The court considered how the losses of the insolvent company were to be distributed as between secured creditors and preferential creditors, given the terms of the applicable trust deed. Held: The court considered the interpretations of the deed, looking at the ‘landscape of the instrument as a whole’ and interpretations given. The Court emphasised the … Continue reading Sigma Finance Corporation, Re; (in administrative receivership): SC 29 Oct 2009
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The taxpayer companies had paid funds into a trust for employees. They sought to set off the payments against their liability to corporation tax. The revenue argued that they were deductible only in the year in which they were paid to the employees. . .
World-wide freezing orders had been made under the 1982 Act. The defendants were members of a Turkish family with substantial business interests in the telecommunications industry. In breach of orders made in the US some defendants had sought to hide their assets. They had failed to respond as required to orders to disclose their assest, … Continue reading Motorola Credit Corporation v Uzan and others (No 2): CA 12 Jun 2003
Saad Investments was a Cayman Islands company in liquidation. The liquidator brought an action here, but the defendant sought a stay saying that another forum was clearly more appropriate. Shares in Saudi banks were said to be held in trust for the company, but Saudi law would not recognise such trusts. The shares had been … Continue reading Akers and Others v Samba Financial Group: SC 1 Feb 2017
The appellant’s land was to be taken under compulsory purchase by the Council who wished to use it to assist Tesco in the construction of a new supermarket. Tesco promised to help fund restoration of a local listed building. Sainsbury objected an now appealed against the Court of Appeal’s overturning of the orer in its … Continue reading Sainsbury’s Supermarkets Ltd, Regina (on The Application of) v Wolverhampton City Council and Another: SC 12 May 2010
