Insolvency Matters Issue 3: July 2025 Editor's note Welcome to Issue 3 of Insolvency Matters, bringing together our pick of the key legal developments in insolvency and restructuring over the first half of 2025. Notably, the Supreme Court has issued important decisions relating to fraudulent trading, transactions defrauding creditors and directors' fiduciary obligations. In the same period, contested restructuring plans have twice reached the Court of Appeal (in Thames Water and Petrofac). These and other developments are summarised below. We wish all of our readers a safe and enjoyable summer. Read the full note News The Insolvency Service looks ahead: Key takeaways from the Insolvency Service "Forward Thinking" conference Building on the successes of the first three conferences, the Insolvency Service held its "Forward Thinking" conference in April 2025. The organisers invited academics and practitioners to submit papers in advance. From the shortlist, the organisers selected a handful of the authors to present their papers at the conference. News Liability & Limitation in the Supreme Court - Bilta (UK) Ltd (in liquidation) v Tradition Financial Services Ltd The recent Supreme Court decision in Bilta (UK) Ltd (in liquidation) and others v Tradition Financial Services Ltd [2025] UKSC 18 marks a significant moment in the interpretation of fraudulent trading under section 213 of the Insolvency Act 1986. The judgment expands the scope of section 213, affirming that liability for fraudulent trading is not confined to those in managerial roles within the insolvent company. Instead, it can extend to any party knowingly participating in the company's fraudulent business. News Thames Water in the Court of Appeal - charting the course This is only the second time that the Court of Appeal has considered restructuring plans. The previous occasion was in Re AGPS Bondco Plc [2024] EWCA Civ 24 (referred to commonly as "Adler"). However, the flurry of further first instance decisions on challenges to such plans showed that there remains a great deal of uncertainty in this area (see our previous article on some of the issues raised in these challenges). News Can I recover money from a collapsed supplier? Jessica Williams for the Financial Times Managing Associate Jessica Williams has been featured in the Financial Times, offering guidance on how businesses can respond when a supplier enters administration. News Stop all the clocks: How administration affects limitation periods The recent ruling in Contract Natural Gas Limited v ZOG Energy Limited [2025] EWHC 86 (Ch) clarifies the impact of administration on limitation periods for claims, offering crucial guidance for creditors. This case saw Judge Andrew Twigger KC determine whether time stops running for limitation purposes when a company enters administration, and what this means for creditors seeking to assert such claims. Subscribe Never miss a publication by signing up to our mailing list Subscribe Insolvency Matters: Subscribe Insolvency Matters Issues Previous Issue 3 Jul 2025 Issue 2 Jan 2025 Issue 1 Aug 2024 Share
News The Insolvency Service looks ahead: Key takeaways from the Insolvency Service "Forward Thinking" conference Building on the successes of the first three conferences, the Insolvency Service held its "Forward Thinking" conference in April 2025. The organisers invited academics and practitioners to submit papers in advance. From the shortlist, the organisers selected a handful of the authors to present their papers at the conference.
News Liability & Limitation in the Supreme Court - Bilta (UK) Ltd (in liquidation) v Tradition Financial Services Ltd The recent Supreme Court decision in Bilta (UK) Ltd (in liquidation) and others v Tradition Financial Services Ltd [2025] UKSC 18 marks a significant moment in the interpretation of fraudulent trading under section 213 of the Insolvency Act 1986. The judgment expands the scope of section 213, affirming that liability for fraudulent trading is not confined to those in managerial roles within the insolvent company. Instead, it can extend to any party knowingly participating in the company's fraudulent business.
News Thames Water in the Court of Appeal - charting the course This is only the second time that the Court of Appeal has considered restructuring plans. The previous occasion was in Re AGPS Bondco Plc [2024] EWCA Civ 24 (referred to commonly as "Adler"). However, the flurry of further first instance decisions on challenges to such plans showed that there remains a great deal of uncertainty in this area (see our previous article on some of the issues raised in these challenges).
News Can I recover money from a collapsed supplier? Jessica Williams for the Financial Times Managing Associate Jessica Williams has been featured in the Financial Times, offering guidance on how businesses can respond when a supplier enters administration.
News Stop all the clocks: How administration affects limitation periods The recent ruling in Contract Natural Gas Limited v ZOG Energy Limited [2025] EWHC 86 (Ch) clarifies the impact of administration on limitation periods for claims, offering crucial guidance for creditors. This case saw Judge Andrew Twigger KC determine whether time stops running for limitation purposes when a company enters administration, and what this means for creditors seeking to assert such claims.