Further word on Supreme Court’s decision in important Insolvency Act case

24.02.2025

Trevor Mascarenhas has been quoted by LexisNexis UK  Supreme Court rules on the applicability of section 423 of the Insolvency Act 1986 (El-Husseiny v Invest Bank PSC) and by Global Restructuring Review UK Supreme Court upholds UAE’s Invest Bank transaction at an undervalue win – Global Restructuring Review following PCB Byrne’s win in the Supreme Court judgment in El-Husseiny and another v Invest Bank PSC [2025] UKSC 4.

PCB Byrne has been at the forefront of developing the law on the scope of s423 of the Insolvency Act, having in Akhmedova v Akhmedov [2021] EWHC 545 (Fam) obtained the first reported judgment on s423 applying to debtors causing the assets of their companies be transferred away. The Supreme Court Judgment may open up additional routes to claw back of assets transferred out of corporate structures, and we are already working one such potential matter.

For further information regarding the setting aside of transactions at an undervalue, and the cross-over between asset recovery and insolvency, please contact Trevor Mascarenhas, Simon College, David Johnson or Tom Crisp.

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