The court was asked to make a declaration which turned on the interpretation of the ‘anti-deprivation’ rule and its application to a settlement agreement: ‘Milbank is insolvent and has had an administration order made against it. Chaucer seeks an order of the court that certain provisions of the Settlement Agreement be struck down under the Principle so that amounts due to Milbank from Towergate under that agreement, and which have been assigned to Chaucer, are recoverable by Chaucer which otherwise they would not have been.’
Judges:
Sir Edward Evans-Lombe
Citations:
[2010] EWHC 1121 (Ch), [2010] 2 BCLC 440, [2010] BPIR 1155
Links:
Jurisdiction:
England and Wales
Cited by:
Cited – Belmont Park Investments Pty Ltd v BNY Corporate Trustee Services Ltd and Another SC 27-Jul-2011
Complex financial instruments insured the indebtedness of Lehman Brothers. On that company’s insolvency a claim was made. It was said that provisions in the documents offended the rule against the anti-deprivation rule. The courts below had upheld . .
Lists of cited by and citing cases may be incomplete.
Financial Services, Insolvency
Updated: 04 October 2022; Ref: scu.415979