Insolvency & Restructuring News

ILA Annual Conference 2010 in Chester


The ILA Annual Conference 2010 was held at the Grosvenor Hotel & Spa in the historic city of Chester on Friday 26th March and Saturday 27th March 2010. Deva Victrix, as the city was known in Roman times, was the site of the largest Roman fortress in Britain, situated at a stategic site on a bend in the River Dee. The Chester Grosvenor has been a central part of life in the city since 1866, with its restaurant holding a Michelin star since 1990.

The conference was chaired by The Honourable Mr. Justice David Richards who has since 1 October 2008 been the Vice-Chancellor of the County of Palantine of Lancaster and has exercised general supervision over the conduct of Chancery and insolvency business in the North of England. He is also the Chairman of the Insolvency Rules Committee and, when in practice as a barrister at Erskine Chambers, was involved in major insolvency cases including the International Tin Council, British and Commonwealth, Maxwell and BCCI.

In a packed technical programme Brian Green of KPMG shared his considerable practical experience of retail CVAs (JJB, Blacks Leisure, Focus DIY); Gavin Davies of Herbert Smith and Simon Edel of Ernst & Young spoke on the use of stalking horses in Nortel's global asset auctions; Robin Dicker QC from 3/4 South Square analysed the uses and abuses of schemes of arrangement; Justin Bickle of Oaktree Capital Management and Garry Wilson of Endless presented the financiers' perspective on restructurings; Mark Cawson QC from Exchange Chambers and Professor David Milman from the University of Lancaster provided an update on the liability of directors; Simon Mills from 5 Paper Buildings shared his considerable experience of acting for factors and invoice discounters and their rights and priorities when the borrower hits insolvency and finally Peter Cranston of Eversheds assisted delegates in finding their way through the uncharted shallows of the prescribed part.

Delegates were then entertained on a memorable guided walking tour around the walls of Chester before the black tie gala dinner, the main course of which was a particular delight.

Copies of the technical papers presented at the conference can be accessed here.

Photographs of the conference and gala dinner can be viewed here.

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Recent Bulletins

A key service provided by the ILA is the provision of bulletins keeping it’s membership up-to-date with the latest developments in insolvency law.

Below are a selection of recent topics covered:

  • Bresco Electrical – construction adjudication and insolvency set-off
  • Ezair v Conn – limits on use of s234
  • Bilta v Natwest – application of fraudulent trading to outsiders