Bankruptcy, Insolvency and Corporate Rescue

Some news and views from UK academia and practice on the law, policy and practice of insolvency

Friday, 17 September 2010

Two new bankruptcy documents from the Insolvency Service

The Insolvency Service (IS) have published two new documents (pictured right) on personal insolvency. They are available on the BIS website:

Dealing with Debt: how to make someone bankrupt
Dealing with Debt: how to petition for your own bankruptcy

Posted by John Tribe, KPMG Lecturer in Restructuring, Kingston Law School, Kingston University, Surrey, UK at 07:43

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Bankruptcy Blog - moving to Jordans Insolvency web service

The Bankruptcy Blog is proud to announce a new venture with Jordans Publishing and Guildhall Chambers that will see the launch of a new insolvency e-newsletter in April/May 2011. The newsletter will contain exclusive insolvency updates, bite-size case summaries on personal insolvency, corporate insolvency, cross-border issues and opinions on wide ranging topics of practical interest. The blog will form part of the new insolvency news service.

Bankruptcy Bloggers

Bill Holohan
Jeremy Marshall
John Tribe, KPMG Lecturer in Restructuring, Kingston Law School, Kingston University, Surrey, UK
Stephen Hunt, Partner at Griffins Insolvency Litigation Forensics

Guests -Emily Kadens, David Graham QC, Bill Holohan, Jeremy Marshall, Stephen Hunt

For the next six months or so a number of guest bloggers will post on the site. Professor Emily Kadens, of the University of Texas Law School, will be providing blog entries on her work highlighting her investigations into the history of English insolvency law. Please see here for more information on Professor Kadens. Professor David Graham QC will also be contributing material on his ongoing research into the history of the subject.

In a new practitioner and international development we have been joined by two new guest bloggers. Mr Bill Holohan of Holohan Associates (Cork and Dublin) will be posting some blog entries over the next six months or so on the law of insolvency from an Irish solicitor's perspective. See here for more details on Mr Holohan. Mr Jeremy Marshall of Irwin Mitchell solicitors, London, will be posting some blog entries over the next six months or so on the law of insolvency from and English solicitor's perspective. For more details on Mr Marshall see here.

We have now been joined by Mr Stephen Hunt of Griffins insolvency practitioners. He will be posting blog entries on our subject from an insolvency practitioner's perspective.

John Tribe notes:

This blog supports my insolvency law and company law teaching and scholarship. It is primarily an online notepad where I record important developments, news and other items that interest me. I occasionally also profess some general thoughts and ideas on the subject on the personal side and on the corporate side.

The primary audience for the blog is of course my insolvency law students and company law students. In this respect it is hoped that the blog will aid in Whitehead's vision, i.e. that “the proper function of a University is the imaginative acquisition of knowledge.” (A.N. Whitehead, 1929: 139, 145). It may also be of use to anyone else who has an interest in the subject. Those readers are also most welcome! The majority of photographs that appear on this blog are exhibits from the Muir Hunter Museum of Bankruptcy at Kingston University. The photographs were taken by Glen Pearson, an award winning professional photographer. Those pictures that are not from the museum collection and the reproduced secondary source material fall within s.32(1)(c) of the Copyright, Designs and Patents Act 1988.

This blog hopefully goes some way to rebut Lord Mishcon's view that, "Insolvency is not a very thrilling or amusing subject." (Lord Mishcon, Hansard , 15 January 1985). The blog is also my attempt at answering Montagu’s contention that: “Our professional duties consist, not merely in activity and in publication upon some practical part of professional knowledge, which repay themselves; but in availing ourselves of every opportunity to visit and strengthen the route and foundation of the science itself.” (Montagu, B. Some Observations upon the Bill for the Improvement of the Bankrupt Laws. Butterworths, London, 1822, at page 73). However, if you want to retain, "a mind unclouded by the study of English bankruptcy law" (Turnour Murray, A. Bankruptcy of Partners (1891) 7 LQR, 53-62, at page 54) look away now before it is too late!

A series of guest bloggers will also make contributions to the site over the coming months. Details will appear in due course. In addition to the news and policy discussions that make up the meat of this blog I plan in due course to go back through the nominate reports and add up case law summaries from old bankruptcy reports, afterall, as Mansfield observed: "A statute can seldom take in all cases, therefore the common law that works itself pure by rules drawn from the fountain of justice is for this reason superior to an Act of Parliament.” (per Lord Mansfield in Mychund v. Barker (1744) 1 Atk at page 33.)

The views and opinions expressed on this blog reflect those of the blog post authors and no institution or organisation. In terms of errors, the usual caveat applies. If you have any feedback or questions in relation to the blog (or find a link that is not working), please e-mail me: j.tribe@kingston.ac.uk

John Tribe's Faculty Page at Kingston University
John Tribe on the Social Science Research Network

Insolvency Events

In the Shadow of the Credit Crunch: New Developments in Insolvency Law and Practice - Nottingham Law School, Nottingham Trent University - 22nd April 2009
INSOL Academic Forum Conference - Stockholm - October 2009
INSOL Academic Forum Conference - Sussex University - March 2009
Insolvency and Rescue Awards - October 2009
Insolvency Lawyers Association Conference - March 2009
John Milsom - Strategy into Practice Lecture - 'In Defence of Prepacks' - Kingston University - 19th March 2009
Professor Rebecca Parry's Inaugural Lecture - Nottingham Law School, Nottingham Trent University - 22nd April 2009

Some Historic Insolvency Books Online

A History of the Bankruptcy Law By Francis Regis Noel, 1919
A sketch of the doctrine relative to commitments in bankruptcy By John Beames, 1827
Bankruptcy Reform By Cecil Fane, Robert Peel, 1838.
Cases in Bankruptcy By John William Buck, John Scott Eldon, Thomas Plumer, John Leach, Great Britain Court of Chancery, 1820
Cases in Bankruptcy By Thomas Christopher Glyn, Robert S. Jameson, 1828
English Reports in Law and Equity By Edmund Hatch Bennett, Chauncey Smith, Great Britain. Parliament. House of Lords, Great Britain. Privy Council. Judicial Committee, 1851
Observations on the law and present practice of bankruptcy and insolvency ... By Observations, 1847
Reports of Cases in Bankruptcy By Basil Montagu, Henry Brougham Brougham and Vaux, William Scrope Ayrton, 1834
Reports of Cases in Bankruptcy By Edward Erastus Deacon, Edward Chitty, 1833
Reports of Cases in Bankruptcy By Edward Erastus Deacon, Edward Chitty, Great Britain Court of Review, 1835
Reports of Cases Relating to Insolvency By David Cato Macrae, Charles John Belcher Hertslet, 1852
The Bankruptcy Act of 1883: With Introduction and Notes, an Appendix Containing the Debtors' Act, 1869, and an Index
The Bankruptcy and Insolvency Reports By C. Wordsworth, John Bury Dasent, Great Britain. Court of Bankruptcy, Great Britain. Court for Relief of Insolvent Debtors, 1855
The Judgment of the Court of Demerara, in the Case of Odwin V. Forbes, on ... By Jabez Henry, 1823
The Law and Practice in Bankruptcy By John Frederick Archbold, John FLATHER, Great Britain, 1827
The Law and Practice of Bankruptcy By Edward Erastus Deacon, 1827
The Law and Practice of Bankruptcy By John Peter De Gex, 1848
The law of bankruptcy, insolvency, and mercantile sequestration, in Scotland By John Hill Burton, 1845
The Law of Bankruptcy, Insolvency, and Mercantile Sequestration, in Scotland By John Hill Burton, 1845
The Law of Equitable Mortgages By Samuel Miller, 1844
The Mercantile and Bankrupt Law of France By Henry Davies, Émilie Laurent, 1855

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Does the BRO/BRU procedure work to filter out the miscreants? Is the mesh sufficiently tight?

Are pre-pack administrations dubious or do they perform a valuable function recycling viable businesses?

Is a one year automatic discharge period prior to discharge from bankruptcy unduly lenient?

Is current English corporate insolvency regulation fit for purpose (as I have recently contended) or are the Conservative Party and the Institute of Directors right with their recent announcements?

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