Jacob J referred to the inherent jurisdiction of the court with particular reference to Ex parte James. Judges: Jacob J Citations: [1999] 1 WLR 1445, [1999] 1 All ER 608 Statutes: Insolvency Act 1986 14(3) Cited by: Not followed – In re Luna Metal Products Ltd (in Administration) CA 14-Dec-2006 The administrators held cash. They … Continue reading In re Mark One (Oxford Street) plc: 1999
The administrators held cash. They proposed a distribution giving creditors who would on a winding up be preferential, full preference. They appealed refusal by the court to sanction the proposal. Held: The court had no power to make such an order. From the cases there were three sources for the court’s power to sanction, or … Continue reading In re Luna Metal Products Ltd (in Administration): CA 14 Dec 2006
The Court has no authority to make an order to control how any future liquidator of a company should distribute the assets on insolvency. It is wrong to seek to fetter his acts and discretions in this way. Citations: Times 19-May-1997 Statutes: Insolvency Act 1986 18(3), 14(3) Jurisdiction: England and Wales Insolvency Updated: 08 April … Continue reading In Re Powershore (Trading) Ltd; In Re Homepower Stores Ltd: ChD 19 May 1997
A court has no jurisdiction to make an order which seeks to bind future decisions of future liquidator in favour of group of creditors. Judges: Mr Justice Lightman Citations: Gazette 18-Jun-1997, [1997] 1 WLR 1280 Statutes: Insolvency Act 1986 18(3) 14(3) Jurisdiction: England and Wales Cited by: Cited – In re Luna Metal Products Ltd … Continue reading In Re Powerstore (Trading) Ltd; In Re Homepower Stores Ltd: ChD 18 Jun 1997
Action by Liquidator against directors for wrongful trading. The court was asked Whether the liquidators had established continued trading causing a loss to company in order to attribute personal liability on the directors. Held: Section 214(3) was intended to impose a high hurdle on the directors, being construed strictly it would require a director seeking … Continue reading Grant and Another v Ralls and Others (Re Ralls Builders Ltd): ChD 11 Feb 2016