Trivial Defects Can't Derail Mogul's Bankruptcy, Bank Says

Law360, London (March 11, 2020, 4:57 PM GMT) -- An Icelandic bank urged a British appellate court on Wednesday to kick-start bankruptcy proceedings against a High Street fashion designer, saying a harmless procedural error is threatening creditors' chances of getting any money back.

A lawyer for Islandsbanki HF told the Court of Appeal that its efforts to bankrupt Kevin Stanford have been blocked because it did not give the businessman enough time to appeal efforts to enforce a £1.3 million ($1.65 million) debt judgment from Iceland.

The bank had the Icelandic judgment recognized in the U.K. in late March 2016 but was supposed to wait a month before trying to...

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