Stewardship and the insolvency practitioner: a review of the current position

Where business failure occurs, it is important that a new management regime should then be installed in the form of an independent and professionally qualified insolvency practitioner, whose function as office holder will be either to achieve rehabilitation or to perform an efficient burial in accordance with the norms of distributional justice. The purpose of this short article is to highlight in this context of the discharge of stewardship responsibilities by insolvency office holders a number of governance-related issues worthy of further exploration. This is a revised and updated version of a paper delivered by Professor David Milman at the Institute of Advanced Legal Studies on November 29, 2012

Average output entropy for quantum channels

We study the regularized average Renyi output entropy \bar{S}_{r}^{\reg} of quantum channels. This quantity gives information about the average noisiness of the channel output arising from a typical, highly entangled input state in the limit of infinite dimensions. We find a closed expression for \beta_{r}^{\reg}, a quantity which we conjecture to be equal to \Srreg. We find an explicit form for \beta_{r}^{\reg} for some entanglement-breaking channels, and also for the qubit depolarizing channel $\Delta_{\lambda}$ as a function of the parameter $\lambda$. We prove equality of the two quantities in some cases, in particular we conclude that for $\Delta_{\lambda}$ both are non-analytic functions of the variable $\lambda$.Comment: 32 pages, several plots and figures; positivity condition added for Theorem on entanglement breaking channels; new result for entrywise positive channel

Regulating close companies in Corporate Law:- towards a more formal recognition?

Close companies are the majority constituency in the corporate population across the globe. Yet little attempt has been made by corporate law systems explicitly to legislate for them. This is particularly so in the United Kingdom, where the courts have assumed the role of providing a customized corporate law regime for such entities. The Duomatic principle of unanimous assent, which is used to whitewash procedural irregularity, is the paradigm in this respect. This article reviews judicial attitudes in the common law world in this regard and evaluates the pros and cons of converting a globally recognized common law principle into a statutory statement of the law. It also considers the wider merits/demerits of a discrete regulatory framework for close companies and private companies in general

A review of developments in partnership law 2017

What follows is our regular review of new developments in Partnership Law. There is the usual flow of traffic in the courts in relation to commonly contested issues in addition to the arrival on the scene of a new member of the partnership family

Stewardship, insolvency practitioners and the personal insolvency scenario

This article reviews the evolving nature of stewardship, as applied to practitioners dealing with personal insolvency cases

The Unexplored Contract and Insolvency Law Dimensions of Hedley Byrne v Heller

It has been argued in previous work that Hedley Byrne v Heller addressed no actual mischief. In the case itself, the defendant's credit reference about Easipower Ltd. was neither a misstatement nor negligently given, and in general the indemnification of reliance on negligent statements is far better regulated by contract than it can possibly be by negligent misstatement. This paper expands on the significance of contract relative to tort in Hedley Byrne, but mainly argues that the mischief perceived by the claimant was caused by the operation of the statutory regime regulating Easipower's insolvency. This makes regarding Hedley Byrne as a necessary response to “the privity of contract fallacy” even more implausible