The prominent worldwide restructuring and insolvency publication, Global Restructuring Review, has commented on the recent announcement of the appointment as King’s Counsel of Guildhall Chambers’ Simon Passfield and four other restructuring and insolvency barristers in England & Wales.
GRR’s Sidney Watson writes:
“Deputy ICC Judge Simon Passfield of Guildhall Chambers in Bristol will … be taking silk this month, three years after he was appointed to the bench in late 2020. He was just 34 when he became a deputy ICC judge and says he may have been the youngest-ever person to have been appointed to that role. Now 37, he is also “one of the youngest people to have taken silk,” he notes. Passfield was admitted to the bar in 2009 and has since developed a practice specialising in litigation and advisory work across all aspects of corporate and personal insolvency law.
“He recently acted for Peter Smith, the former CEO of engineering group Nasmyth, when he challenged sanction of its restructuring plan and says it was one of many highlights of his career. Nasmyth’s Part 26A plan was denied sanction last May, after the English High Court refused to cram down the UK tax authority HMRC.
“Passfield has also recently acted for a trio of Leonard Curtis partners as joint administrators of law firm group Axiom Ince, helping them pursue claims against some of its former executives to recover £64 million (US$81.6 million) of misappropriated client monies. The administrators were appointed on 26 October, a few weeks after Axiom Ince became the subject of an intervention by the UK’s Solicitors Regulation Authority (SRA) and ceased to trade.
“As Deputy ICC Judge, Passfield handed down a ruling in 2021, Re PGH Investments Ltd, considering the temporary restrictions on winding up petitions introduced by the Corporate Insolvency and Governance Act 2020 in response to the Covid-19 pandemic. He ultimately found the company facing winding up was not liable to pay the petitioner’s alleged debt and dismissed the petition on that ground – but nevertheless went on to rule that the temporary covid restrictions did not apply in the case because the debtor had failed to produce adequate evidence that covid had had a financial effect on it.”
To read the whole GRR article, follow this link: New silks at South Square and Guildhall – Global Restructuring Review
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