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Aluminium Industrie Vaasen BV was a Dutch supplier of aluminium foil.Romalpa Aluminium Ltd processed it in their factory. In the contract of sale, it said that ownership of the foil would only be transferred to Romalpa when the purchase price had been paid in full and products made from the foil should be kept by the buyers as bailees (the contract referring to the Dutch expression ...
Punj Lloyd Limited is an Indian Engineering, procurement and construction (EPC) company providing services for energy, infrastructure and defense sectors. The company's operations are spread across the Middle East and Africa, [ 2 ] [ 3 ] Asia Pacific, South Asia and Europe.
The case was decided in relation to section 31 of the Bankruptcy Act 1914 [5] (which applied to companies by virtue of section 317 of the Companies Act 1948 [6]). Today those provisions have been replaced by section 323 of the Insolvency Act 1986 and rule 14.25 of the Insolvency Rules (England and Wales) 2016 [ 7 ] (formerly rule 4.90 of the ...
Siebe Gorman & Co Ltd v Barclays Bank Ltd [1979] 2 Lloyd's Rep 142 is a UK insolvency law case, concerning the definition of a floating charge. It was an influential decision for many years, but is now outdated as authority in light of the House of Lords decision in Re Spectrum Plus Ltd.
The effect of arbitration on the integrity of the insolvency proceedings; The relative prejudice to the parties from the referral of the dispute to arbitration; The urgency of resolving the dispute; The applicability of a stay of proceedings under bankruptcy or insolvency law; Any other factor the court considers material in the circumstances
The next question which arises is whether there is a case under s 214(3) for saying that after the end of July 1986 the respondents took every step with a view to minimising the potential loss to the creditors of PMC as, assuming them to have known that there was no reasonable prospect of PMC avoiding insolvent liquidation, they ought to have ...
Belmont Park Investments PTY Ltd v BNY Corporate Trustee Services Ltd [2011] UKSC 38, [2012] 1 All ER 505, [2012] 1 AC 383 (27 July 2011) is a UK insolvency law case, concerning the general principle that parties cannot contract out of the insolvency legislation.
The Court of Appeal held the company could be wound up as just and equitable under the Companies (Consolidation) Act 1908 section 129 (now Insolvency Act 1986, section 122(1)(g)) as the only way to break the deadlock. Lord Cozens-Hardy MR said the following.