Civil Law

(UK) The Court Considers the Question of Whether Secured Creditor Consent is Required to an Administration Extension Again. “Too Good” to be True?

No, it isn’t.  We now have two cases where the Court has confirmed that insolvency practitioners do not need the consent of paid secured creditors when extending an administration under para. 78 of Schedule B1 of the Insolvency Act 1986 (the “Act”).

In Boughey & Anor v Toogood International Transport and Agricultural Services Ltd [2024] EWHC 1425 (Ch) (“Toogood”)the judge agreed with the conclusions reached in the recent Pindar case – see our blog on this – concerning the interpretation … Read the rest

Supreme Court

Maker of CBD products asks court to decide whether lawsuit under criminal racketeering law can go forward

Maker of CBD products asks court to decide whether lawsuit under criminal racketeering law can go forward

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The Petitions of the Week column highlights a selection of cert petitions recently filed in the Supreme Court. A list of all petitions we’re watching is available here.

Organized crime, from the mafia to small-time money laundering schemes, often evades criminal prosecution. To bolster efforts to fight organized crime, Congress passed the Racketeer Influenced and Corrupt Organizations Act, known as RICO, more than 50 years ago. In addition to the criminal penalties for violating RICO, the law also … Read the rest