Read the full article below or download your copy using the functionality within issuu.
Fri 13 Jul 2018
Football creditors, anti-deprivation and British Eagle - A Scottish Perspective
Since at least the mid 19th century, the English courts have admitted a common law principle of insolvency law referred to in contemporary parlance as the "anti-deprivation rule" (the "ADR"), and known historically as "fraud on the bankruptcy laws"1. The basic premise of the ADR is that a device through which a bankrupt estate is denuded of an asset in fraud of the bankruptcy laws is in essence void as a matter of policy.
Related Insights
Article
Energised approach to contract interpretation
A commercial judge in the Court of Session has ruled in favour of a windfarm landlord, obliging the tenant to pay additional rent due to payments it received for reducing electricity generation during periods of low demand: Glenfiddich Wind Limited v Dorenell Windfarm Limited.
Article
Interim interdicts a lesson for the unwary!
In Martin McGowan v Springfield Properties Ltd, the Court awarded £558,033 in damages after a contractor was wrongfully restrained by an interim interdict for five years. The case highlights that parties obtaining interdicts have a duty to remove them when no longer necessary and that damages can include loss of earnings, reputational harm, and distress. Springfield has indicated it intends to appeal.