The UK Supreme Court clarifies the scope of s.213 of the Insolvency Act 1986: Bilta (UK) Ltd v Tradition Financial Services Ltd
In a landmark decision on 7 May 2025, the UK Supreme Court clarified the scope of fraudulent trading under section 213 of the Insolvency Act 1986 (“s. 213 IA 1986”) in Bilta (UK) Ltd v Tradition Financial Services Ltd [2025] UKSC 18. The judgment confirms that third parties/outsiders who participate in, facilitate or assist fraudulent transactions by a company when they know that the company’s business is being carried on for a fraudulent purpose are liable for contributions under s.213 IA 1986.
The Court also considered the application of limitation periods, where a company has been dissolved and then restored.
Representative Actions: Cautionary lessons from Smyth
In this update, Rosenblatt highlights cautionary lessons for potential claimants and practitioners in class actions in England and Wales which are becoming increasingly prevalent, driven by factors such as a growth in the availability of third-party litigation funding and a public shift towards seeking accountability for corporate misconduct.
AI in Spring 2025: safety done, growth to come
In this update, Rosenblatt explores legal, political, and regulatory developments in the use of AI in the UK, Europe, the US and in international arbitration.