Harper Macleod Partner James Lloyd, who represented the successful party, reflects on the implications for insolvency practitioners of the decision in Carnbroe.
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Latest articles from James Lloyd
The Supreme Court judgment in MacDonald and another v Carnbroe Estates Ltd has reframed the remedies available to the court when there has been a transfer at undervalue. Harper Macleod LLP represented the joint liquidators in this action, successfully arguing that the transaction should be reduced as a transfer at undervalue.
The Bankruptcy & Debt Advice (Scotland) Act 2014 came into force today on 1 April 2015, introducing, in the Scottish Government's own words, "one of the most modern systems of debt advice and debt management in the world."
The Insolvency (Scotland) Amendment Rules 2014 (the "2014 Rules") came into force on 30 May 2014 and are applicable to cases where a receiver is appointed, a resolution for the winding up of a company is passed, a petition for liquidation is lodged or an application for the appointment of a provisional liquidator is made on or after 30 May 2014.
The R3 Scottish Women in Insolvency Group (SWIG), chaired by Deloitte’s Judith Howson, will bring together two leading opinion formers from Scotland’s insolvency and finance sectors, at its latest event on the 1 November 2012.