Insolvent Estates - Boris Berezovsky

Even in death, Boris Berezovsky continues to interest the High Court. Today a judgement is published ([2015] EWHC 2962 by David Richards J establishing that the date of death is the date for both ascertaining and valuing liabilities of a deceased person. Since an insolvency administration order (IAO) can be made many years after death that can have quite a dramatic effect. It is also not always easy to apply since liabilities that were only contingent at death may eventually be the cause of the insolvency. Here, because of exchange rate movements, it significantly affected the value of a number of the liabilities. In the end, the case was an attempt (not the first) to remove the administrators of the estate - that attempt failed.