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R3 Events: Energy Supply Company (ESC) Failures: Hot Topics and Lessons Learned (In Conversation With Series)

Location: On Demand

Since 2021 there have been 31 ESC failures. The ensuing fallout has revealed a number of tensions between statutory regimes, such as that relating to Renewables Obligation (ROs), and insolvency law. The cases have also raised novel questions of law in other areas, including subrogation and unjust enrichment.

Lance Ashworth KC and Matthew Morrison acted for two of ten suppliers who applied for directions on novel questions raised by proofs of debt lodged by Ofgem in respect of ROs and by Suppliers of Last Resort (SoLRs) in respect of the costs of honouring customer credit balances. These applications were decided by Zacaroli J in November 2022 ([2022] EWHC 2826 (Ch)).

In this online seminar, during which audience interaction will be very much encouraged, Lance and Matthew provided an in-depth analysis of the legal issues raised by these cases and discuss their significance for future ESC failures; the SoLR and ESC administration regimes; and the manner in which office-holders should approach the proof of debt process where novel questions of law are raised.