In re Luna Metal Products Ltd (in Administration): CA 14 Dec 2006
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