Posts Categorized: Featured

Time is Just the Start

Following on from my previous article about the attempts for the joint administrators of Nortel Networks France to get their remuneration approved by the court when there were no longer any creditors to approve it, the independent assessor has report to the Court and Snowden J has given his view on the matter (Re Nortel…

The Costs of Having Fees Assessed by Court

Those who have attended either of the Griffins seminars this year will have heard me talk about our experience as experts in the assessment of insolvency practitioner’s fees for acting as office-holders and how the costs of the final court determination frequently mean that finding a settlement is the best approach for all involved. An example…

Trustee in Bankruptcy Fails to Stop Court Reviewing his Legal Costs

In Ardawa v Uppal & Anor [2019] EWHC 1663 (Ch) the trustee in bankruptcy of Mr Ardawa took what will almost always be the correct approach when a debtor applies to annul a bankruptcy order by submitting a brief skeleton stating he was neutral but wanted provision for his costs if the bankruptcy order is annulled. As attendance…

Griffins Insolvency, Litigation & Forensics Conference – June 2019

Thank you to all those who attended the Griffins Insolvency, Litigation & Forensics Conference 2019. We hope that you found the sessions informative and interesting. A special thank you to our speakers from the UK and abroad for sharing their experiences with us. If you would like further information on any of the topics covered…

Griffins appointed Administrators to Miller Gardner Solicitors

On 10th May 2019 Stephen Hunt and Kevin Goldfarb were appointed Joint Administrators of Miller Gardner Limited, a firm of solicitors trading from the Stretford area of Manchester.  The firm specialises mainly in PPI-type claims. The Administrators will be making urgent inquiries into the assets of the business with a view to a transfer or…

Losing Control……

Share valuation is an important factor when calculating taxation liabilities. Trevor Slack argues against control premiums when valuing shares and businesses. As published on 16 January 2019 in Taxation https://www.taxation.co.uk/Articles/2019-01-15-339098-control-premiums-when-valuing-business-and-shareholdings  The use and misuse of control premiums in fiscal valuations was covered deftly in Andrew Strickland’s article, ‘Time to change the music’ (see Taxation, 30…

Griffins appointed as Liquidator of Total Debt Relief Limited

On 31 October 2018, the Financial Conduct Authority (FCA) successfully petitioned the High Court for Total Debt Relief Limited (TDR) to be wound-up in the public interest.  There was no challenge to the petition by the sole director of TDR nor by its Company Secretary who was also the sole shareholder. The FCA has subsequently…

Griffins appointed to Exmoor Partners LLP

On 25 September 2018 Stephen Hunt of Griffins Insolvency Litigation and Forensics was appointed as Provisional Liquidator of Exmoor Partners LLP. Exmoor is licensed by the Financial Conduct Authority to provide payment services and the petition for its winding up is in connection with a number of claims that have arisen through this activity.  It…

Griffins appointed to Total Debt Relief Limited (TDR trading as Minerva Finance)

On 11 September 2018, The Financial Conduct Authority (FCA) obtained an urgent High Court Order appointing a Provisional Liquidator in respect of Total Debt Relief limited (TDR), to protect its customers’ money. The FCA is also petitioning for TDR to be wound-up, the petition for this will be heard at a later date. Stephen Hunt…

Government proposes to legislate on Value Extraction Schemes

In October 2013 Griffins wrote a paper called “Balancing the Books” that proposed replacing the existing Extortionate Credit Transaction law with a “Fair Dealing” section that would enable an IP to reverse a transaction that; a) required the company to make unfair payments or b) created a disproportionate benefit to a third party at a…