Bankruptcy & Corporate Restructuring
Bankruptcy & Corporate Restructuring
Patrick Elliot advises on insolvency, restructuring and litigation. He acts for funds, investment banks, insolvency practitioners and corporates. He has advised: trust and unsecured creditors on making recoveries from MF Global, Lehman and in the Enron and TXU CVAs; bondholders in the restructuring of the Austrian company A-TEC Industries AG; on representation and recoveries purusant to the EC Regulation on Insolvency Proceedings 2000 and the Cross-Border Insolvency Regulations 2006; on COMI shifts; and on claims trades, CVAs and Schemes, directors’ duties, antecedent transactions, MVLs, unfair prejudice petitions, administrations, mediations and arbitrations, chargeholder claims, transfers of IPRs and ROT.
Patrick has advised funds on investments in second-tier debt and their potential rights and obligations, and the boards of failing companies on their responsibilities and liabilities. He has represented clients in commercial and intellectual property disputes including agency, contract, warranty, patent, trade mark, passing off, copyright, data protection, database rights and confidentiality. He has written articles for Legal Week, INSOL World, the International Bar Association, ILO,Euromoney, Eurofenix, and Hedge Fund Journal.
- Acting for the respondents to an application made by the receivers of a trust in Chapter 11 for recognition and the enforcement of a judgment made in the USBC. Heard before the Supreme Court in March 2012 and awaiting judgment – David Rubin & Anor v. Eurofinance SA & others  EWHC 2129 (Ch) and  EWCA Civ 895.
- Acting for the Dutch Bankruptcy Trustee on a challenge to jurisdiction in Polymer Vision & Others v Sebastiaan Maarten Marie Van Dooren  EWHC 2951 (Comm).
- Acted in a claim in the CVA of a TXU company – In the matter of Energy Holdings (No.3) Ltd (In Liquidation) sub nom Gold Fields Mining LLC v (1) James Robert Tucker (2) Jeremy Spratt  EWHC 1696 (Ch) and  EWCA Civ 173.
- Acted for British Land, Standard Life and Scottish Widows in connection with attempted guarantee stripping in a CVA – Luctor Limited and Others v. Powerhouse Limited (in CVA and Administration) and Others  EWHC 1002 (Ch).
- Acted for BAE Systems Land Systems Ltd in connection with an agency commission claim – Chan U Seek v. Alvis Vehicles Ltd ( W.L.R. and in the related issue of gaining access rights to court documentation – Guardian Newspapers v. Alvis Vehicles Limited (The Times 14 Dec 2004).
- My Fotostop Ltd v. Fotostop Group Ltd ( F.S.R. 17).
- Haberman v. Jackel International Ltd ( F.S.R. 683).
Patrick has written numerous articles, including most recently:
- A commentary on Rubin v Eurofinance for Legal Week on 27 July 2012.
- Co-author, “Distressed debt in restructured entities – a second bite of the cherry,” Eurofenix, Summer 2012
- “High Court clarifies the scope of the insolvency exception,” International Law Office, May 2012
- Co-author, “The Scope of the Anti-Deprivation rule” – the case of Belmont Park Investments Pty Limited, INSOL World (4th Quarter 2011)
- “Prime Broking Concerns Post-Lehmans,” Insolvency and Restructuring International, Vol 3, No. 1, May 2009
- Co-author, "Cayman Island Insolvencies: Looking ahead to positive changes," The Hedge Fund Journal, October 2008
- Co-author, "Subprime Crisis: The Ripple Effect Continues," Eurofenix, Summer 2008
- Co-author, "Corporate Restructuring and Insolvency: Redefined by Today's Credit Crunch," Euromoney Yearbook, Global Insolvency & Restructuring Review 2008/09
- Vice-Chair, Enforcement of Creditors’ Rights, SIRC subgroup of the International Bar Association
- Insolvency Lawyers Association
- Solicitor of the Supreme Court of England and Wales