Sidley Successfully Represents Darty Holdings SAS in the Court of Appeal

Sidley represented Darty Holdings SAS, part of the leading French retail group Fnac Darty, in the Court of Appeal in overturning a first instance decision that the repayment of a £115.4 million intercompany loan by CGL Realisations Limited (formerly Comet Group Ltd) was an unlawful preference under the UK Insolvency Act 1986. This is believed to be the largest preference claim ever considered by the English Courts by value. The decision results in over €130 million being repayable to Darty.

The Sidley team was led by Matthew Shankland and included Alastair Hopwood, Samantha Cumming, David Smith, and Jonathan Tomlin.