Insights / News


Helen Pugh and Justina Stewart present ‘Distribution & Dividends’ to MBL Seminars

Helen Pugh and Justina Stewart were pleased to speak to a range of solicitors, insolvency practitioners and accountants about shareholders’ and directors’ liability in relation to unlawful distributions during an MBL Learn Live webinar recently.

MBL Learn Live offer live broadcast sessions in the same way as face to face seminars with the ability to engage with the speaker and other delegates through interactive features including polls, chat-box and breakout exercises. Sessions are also recorded for delegates to revisit.

Distributions & Dividends

Given the widely reported misuse of Covid loan schemes and the economic climate, investigation of and proceedings relating to the distribution of company assets is likely to increase. Therefore, the talk was particularly timely. Helen and Justina provided a toolkit for considering claims that may arise in relation to “distributions” from companies, focusing on the following questions:

  • Is there a claim?
  • Against whom?
  • What defences may a director or shareholder be able to rely upon?

Unlawful distributions

Helen and Justina looked at “disguised” distributions, liability for unlawful distributions, liability under the Insolvency Act 1986, limitation, the Duomatic principle, rectification action and proposals.

To find out more about Learn Live and to access this session in full, please visit or email

About the Speakers

Helen Pugh is an experienced leading junior in all aspects of commercial litigationcompany lawinsolvency, and professional negligence with a significant cross-border element. She is ranked in the legal directories in the fields of both insolvency and professional negligence and is a contributor on insolvency topics to the upcoming edition of Millington and Sutherland Williams on The Proceeds of Crime. A particular strength is her crossover expertise in insolvency, civil fraud, company law and professional negligence. The legal directories say “She oozes quality, is meticulous and always engaging. She is very pragmatic and always delivers on her promises”, she is “accessible, approachable, good written work” and “she has excellent attention to detail and offers very good tactical advice.”

Justina Stewart is ranked as a leading junior in insolvencycommercial litigation, and banking & finance. A former investment banker, she is described in directories as “incredibly impressive and a force to be reckoned with”, and a “highly intelligent and tenacious litigator” who is “also far more financially literate than most barristers”, and with “a very good commercial application”. Justina is appointed to the Attorney General’s Panel of Junior Counsel to the Crown, and is also external counsel to Tresartis, a litigation funder focusing on insolvency-related claims. She has extensive experience in company and insolvency law matters – both contentious and advisory. Her instructions range from complex questions of company law (e.g. in the context of restructurings) to acting in shareholder disputes and proceedings involving fraud and applications under the Insolvency Act 1986.

More information

If you would like to find out more about Helen or Justina or would like to instruct them, please contact their Practice Management Team: Matt Sale on +44 (0)20 7427 4910 or Peter Foad +44 (0)20 7427 0807.

News 6 Jul, 2021


Helen Pugh

Call: 2008

Justina Stewart

Call: 2010

Portfolio Builder

Select the expertise that you would like to download or add to the portfolio

Download    Add to portfolio   
Title Type CV Email

Remove All


Click here to share this shortlist.
(It will expire after 30 days.)