Challenging lawful dividend payment as a transaction defrauding creditors and for breach of directors’ duties (BTI 2014 LLC v Sequana SA and others; BAT Industries plc v Sequana SA and another)
22 February, 2019
Ciaran Keller discusses the practical implications of the judgment in BTI 2014 LLC v Sequana SA and others, BAT Industries plc v Sequana SA and another, which clarifies, with respect to a lawful dividend payment, when remedial relief under section 423 of the Insolvency Act 1986 (IA 1986) may be granted and when directors’ duties to have regard to the interests of creditors (the creditors’ interests duty) may apply. Download the article here.
This article was first published by LexisNexis Restructuring & Insolvency analysis in February 2019
- This article is written by Ciaran Keller, a member of Essex Court Chambers. Essex Court Chambers is a set of barristers’ chambers. It has no collective or distinct legal identity of any kind. All barristers practising from these chambers are self-employed individuals who provide their professional services as sole practitioners in their own name. The information and any commentary on the law contained in this article is provided free of charge for information purposes only. Whilst reasonable effort has been made by Ciaran Keller to ensure that the contents are accurate and up-to-date, no responsibility for the accuracy and correctness of such contents, or for any consequences of anyone relying upon any of it, is assumed by Ciaran Keller (or any other member of Essex Court Chambers). The information and commentary does not, and is not intended to, amount to legal advice to any person on a specific case or matter or in any other sense.