Challenging Transactions Defrauding Creditors: s.423 Update

We are pleased annouce the next session of Serle Court’s Morning Brief: Insolvency Insights — a series of breakfast seminars led by our insolvency experts. On Thursday, 5 March, Matthew Morrison KC and Marc Delehanty, chaired by Lance Ashworth KC, will present Challenging Transactions Defrauding Creditors: s.423 Update.

The appellate courts were busy in 2025 exploring the scope of s.423, Insolvency Act 1986, a vital tool for reversing transactions which put assets beyond the reach of or otherwise are prejudicial to creditors. Join Matthew and Marc over coffee and croissants as they explore topics to include:

Recovery beyond the debtor’s own assets? – Invest Bank v El-Husseini (UKSC Feb 2025)
In a complex arrangement, how to identify a transaction to challenge? – TAQA Bratani v Fujairah Oil and Gas (EWCA Dec 2025)
When does transfer of a property right not involve a transfer of something of value? – Crescent Gas v NIOC (EWCA Nov 2025)

To sign up for the session above, please use the 'book your space' button below. If you have a colleague who would like to attend, don't hesitate to get in touch with our BD & Marketing team via email.

Related Barristers

Lance Ashworth KC

Call: 1987
Silk: 2006

Matthew Morrison KC has a broad commercial chancery practice, with particular expertise in civil fraud, company and partnership disputes, and insolvency litigation.

Described by Chambers UK 2027 as an “outstanding barrister” who is “technically brilliant, fantastic with clients and someone whose cross-examination is exceptional”, Matthew regularly appears in the High Court and Court of Appeal and has acted in proceedings before the Grand Court and Court of Appeal of the Cayman Islands, the Eastern Caribbean Supreme Court (BVI), the Supreme Court of Gibraltar, the Isle of Man High Court of Justice and the Dubai International Financial Centre Courts. He also has significant experience assisting advocates before the Royal Courts of Jersey and Guernsey. He is generally admitted to the BVI Bar and is currently admitted ad hoc on a number of matters in the Cayman Islands.

Matthew is an established legal author. He has written widely read PLC practice notes on minority shareholder remedies and edits chapters on directors’ duties and disqualification, and insolvency, in Gore-Browne, Butterworths Corporate Law Service, Tolley’s Company Law Service and Tolley’s Company Law Handbook; and on unfair prejudice, misfeasance and disqualification in the Law of Limited Liability Partnerships (Whittaker and Machell (6th ed.), 2026).

Matthew Morrison KC

Call: 2004
Silk: 2025

Marc Delehanty practises in commercial litigation and civil fraud, with a particular focus on international disputes concerning jurisdiction, foreign law, insolvency and trusts. He regularly acts in urgent injunction applications, particularly in connection with asset recovery. He is experienced in handling matters relating to gambling, cryptocurrency and sanctions.

Marc is sought after for high-value, high-profile and high-stakes disputes. He has appeared twice in the Supreme Court, conducting oral advocacy in BTA Bank v Khrapunov, concerning unlawful means conspiracy, and Invest Bank v El-Husseiny, concerning transactions defrauding creditors under s.423, Insolvency Act 1986. He is currently instructed in the pending Supreme Court appeal of Crescent Gas v NIOC, a $2 billion dispute involving agency, insolvency and trusts law.

Recent instructions include acting for over 3,000 claimants in UK group litigation against Johnson & Johnson concerning alleged fraudulent misrepresentation in marketing talc-based baby powder; defending a $357 million breach of contract claim brought by the Bahamian Government against the Grand Bahama Port Authority; and representing BVI corporate defendants in PrivatBank v Kolomoisky, a $3 billion-plus Ukrainian banking fraud case.

Marc is ranked by Chambers and Partners in Commercial Dispute Resolution, Civil Fraud and Gambling Disputes.