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Fraud › United Kingdom › Liquidation

Fraud is the making of false representations or engaging in deceptive behavior in order to unlawfully secure financial or personal gain. 
Cooley LLP

Are You in This Party? The Scope of Section 213 of the Insolvency Act 1986

Cooley LLP on

The UK Supreme Court recently handed down a judgment in Tradition Financial Services Ltd v Bilta (UK) Ltd & Others in which it considered the scope of section 213 of the Insolvency Act 1986, specifically whether those beyond...more

Mayer Brown

UK Supreme Court Confirms Broad Scope of Fraudulent Trading Provision Under S.213 Insolvency Act 1986

Mayer Brown on

On 7 May 2025, the UK Supreme Court handed down its judgment in Bilta (UK) Ltd (in liquidation) and others v Tradition Financial Services Ltd [2025] UKSC 18. The judgment primarily concerned the scope of s.213 Insolvency Act...more

King & Spalding

NMC Health PLC’s Subsidiaries Enter Groundbreaking Administration Under the Jurisdiction of the ADGM Courts

King & Spalding on

NMC Health plc (NMC Health) made news around the globe in December 2019 when it was the subject of a Muddy Waters report which alleged various bad acts had been carried out by the company. NMC Health was subsequently placed...more

Latham & Watkins LLP

For Fear of Learning an Inconvenient Truth: Third-Party Liability in Fraudulent Trading

Latham & Watkins LLP on

Parties within a chain of transactions may face liability for dishonesty and assistance, even if they do not have actual knowledge of fraud. The recent judgment in Bilta (UK) Limited (in liquidation) & ors v. NatWest...more

White & Case LLP

Vneshprombank v Bedzhamov: freezing orders, lavish lifestyles and the “ordinary living expenses” exception

White & Case LLP on

In Vneshprombank LLC v Georgy Bedzhamov and ors [2019] EWCA Civ 1992 the Court of Appeal reaffirmed the approach to ascertaining the "ordinary living expenses" of a respondent to a freezing injunction....more

White & Case LLP

UK Supreme Court upholds first successful claim for breach of the "Quincecare" duty financial institutions owe their customers

White & Case LLP on

In Singularis Holdings Ltd (In Official Liquidation) v Daiwa Capital Markets Europe Ltd ([2019] UKSC 50), the Supreme Court upheld the first successful claim in negligence by a customer of a financial institution for breach...more

BCLP

Singularis v Daiwa: UK banks beware!

BCLP on

The Global Restructuring and Insolvency Developments team of BCLP presents this very concerning opinion for any financial institution that operates in the United Kingdom. Specifically, in Singularis Holdings Ltd (in Official...more

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