Nicholas William Nicholson & Anor v Insolvency Practitioners Association & Ors

Nicholas William Nicholson & Anor v Insolvency Practitioners Association & Ors

The IPA does not exercise public functions when entering into, holding, or assigning rights under IP Bonds; the Bonds, properly construed within their factual matrix, create a trust by which the IPA holds claim rights on trust for the Companies’ Insolvency Estates. The Claimants, as sole beneficiaries, are entitled to declarations and orders transferring claim rights under section 234 IA 1986.

Parties
Claimant: Nicholas William Nicholson; Claimant: Russell D Parkin; Defendant: Insolvency Practitioners Association; Defendant: Intact Insurance UK Limited; Defendant: Mr Gareth Rusling
Jurisdiction
England and Wales
Judgment Date
25 March 2026
Procedural Posture
Civil (insolvency/trusts) / Final Judgment
Outcome
Claim allowed
Legal Topics
Express Trust Creation, Implied Terms, Public Vs Private Functions, Assignment of Claim Rights, Section 234 Insolvency Act 1986
Insolvency Trusts Contract Express Trust Creation Implied Terms Public Vs Private Functions Assignment of Claim Rights Section 234 Insolvency Act 1986

Case Brief

Summary, issues, holding and outcome

More case intelligence is available

Unlock the full research layer for this judgment.

Full judgment text Downloadable case file Legal principles 3 Authorities cited 19 Party arguments 2 Amounts and remedies 1
Sign in to unlock

Parties

Nicholas William Nicholson

Claimant

Russell D Parkin

Claimant

Insolvency Practitioners Association

Defendant

Intact Insurance UK Limited

Defendant

Mr Gareth Rusling

Defendant

Procedural Posture

Civil (insolvency/trusts) / Final Judgment

Legal Issues

  1. 1 Whether the IPA exercises public functions in relation to IP Bonds
  2. 2 Whether the IPA holds claim rights under IP Bonds on trust for the Companies’ Insolvency Estates
  3. 3 Whether the Claimants are entitled to declarations and orders transferring claim rights under section 234 IA 1986

Ratio Decidendi

The IPA does not exercise public functions when entering into, holding, or assigning rights under IP Bonds; the Bonds, properly construed within their factual matrix, create a trust by which the IPA holds claim rights on trust for the Companies’ Insolvency Estates. The Claimants, as sole beneficiaries, are entitled to declarations and orders transferring claim rights under section 234 IA 1986.

Court Disposition

Claim allowed

Orders

  • Declaration that IPA holds claim rights under IP Bonds on trust for Companies’ Insolvency Estates
  • Declaration that Companies (acting by Claimants) are entitled to bring claims under the Bonds