The Court of Appeal today handed down judgment in John Doyle Construction v Erith Contractors regarding the enforcement of adjudication decisions by insolvent companies. The Court of Appeal seems to disagree with the Supreme Court's decision in Bresco v Lonsdale and its decision will create significant uncertainty for insolvent claimants in the construction industry. Please see below some of our thoughts on the judgment.
Judgment has today been handed down in Re BetIndex Limited regarding the distribution to customers of funds held in a trust by BetIndex Limited t/a Football Index. Please see our summary of the key findings and a link to the full judgment.
H&J Director Services 1 Limited has been appointed by the Court to represent those customers of BetIndex Limited t/a Football Index with an interest in arguing that the “Relevant Date” (in relation to the distribution of certain monies held on trust for customers) should be a date after 26 March 2021. This matter has been listed for a one day hearing on Friday 21 May 2021. While we are still working with counsel to formulate our position (and the arguments in support of that position), our current intention is to propose at least two potential ‘Relevant Dates’ as set out in this statement.
By an order of the Court dated 11 May 2021, H&J Director Services 1 Limited (a wholly owned subsidiary of Henderson & Jones Limited) has been appointed as a representative of certain customers of BetIndex Limited t/a Football Index.
2020 was not a year anyone would choose to repeat, but despite the challenging circumstances H&J had a successful year. As summarised in this article, we had a significant victory at trial on one of our claims and settled numerous other claims in our portfolio returning millions of pounds to the assignors of those claims to us. We were also delighted to welcome three new team members.
In August H&J settled two mid sized cases in relatively quick succession. These cases achieved a total return to the insolvent estates of over £1.5 million - all of which was received in cleared funds within 30 days. We wish to share these examples as they are very different but also very typical of the cases we work on.
Philip is co-founder of Henderson & Jones and an experienced commercial litigator, specialising in complex financial services and insolvency disputes. Philip is General Counsel of Henderson & Jones and sits on our investment committee.