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BHS liquidators win record wrongful trading judgment and establish new "Trading Misfeasance" law

June 2024

Client(s) Rowley, Geoffrey Paul and Wright, Anthony John

Jones Day represented Anthony John Wright and Geoffrey Paul Rowley of FRP Advisory as joint liquidators of SHB Realisations Limited (formerly BHS) in successfully obtaining the largest-ever wrongful trading award since the statutory offence was introduced under the UK Insolvency Act 1986. The liquidators also successfully argued that the directors should be liable for a novel cause of action known as "Trading Misfeasance" - which resulted in a £150 million judgment against two former BHS directors.

Wright v Chappell [2024] EWHC 1417

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