Insolvency & Restructuring News


ILA Associates' Network - Junior Counsel discuss the Lehman and Nortel appeals


Well done to Tessa Blank, Mark Lawford, Rory Conway, Adam Al-Attar and other members of the committee for organising the first post summer event for the (newly named) ILA Associates Network.  On a balmy 2nd September, in the splendid surroundings of The Large Pension Room, Gray's Inn, Tom Smith and Stephen Robins (both of whom were junior Counsel in the case) provided a thought provoking discussion to 50 members of the Associates Network on the Supreme Court's decision in Nortel/Lehmans.  Tom and Stephen explored the Supreme Court's analysis in Nortel/Lehmans on the expanded definition of provable debts and the challenges of defining the scope of administration expenses.  On the thorny issue of administration expenses, it was noted that the attention is now turned to the forthcoming Court of Appeal hearing in Game Station which it is widely anticipated will grapple with the Lundy Granite principle and its relevance to rent in administration.  There is clearly much for insolvency professionals to look forward to!

The evening would not be complete without encouraging those in attendance to spread the news about membership of the ILA Associates Network and the opportunities that it brings not least the ability to develop an interesting professional network.