ABT Auto Investments Limited vs. Aapico Investment Pte Ltd and Ors [2022] EWHC 2839 (Comm.) In brief A cross-practice group in the London office of Baker McKenzie — led by Restructuring Partner, Priyanka Usmani, Disputes Resolution Partner Charles Thomson and Banking Partner Matthew Cox — represented Aapico who were successful in their argument that they had validly appropriated shares in a private company under The Financial Collateral Arrangements (No. 2) Regulations 2003 (“Regulations”). Key takeaways…
In brief The UK Supreme Court has handed down its long-awaited judgment in relation to the case of BTI 2014 LLC (Appellant) v. Sequana SA and others (Respondents) [2022] UKSC 25, concerning the duty of directors of a company registered under the Companies Act 2006 to consider (and act in accordance with) the interests of the company’s creditors. Directors’ duties: existing framework Before this judgment was handed down, the general consensus was as follows: Where…