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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

In Re Powershore (Trading) Ltd; In Re Homepower Stores Ltd: ChD 19 May 1997

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

In Re Powerstore (Trading) Ltd; In Re Homepower Stores Ltd: ChD 18 Jun 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

In re Cromptons Leisure Machines Ltd: ChD 13 Dec 2006

The section gave the court a jurisdiction to authorise payments to people would be preferred creditors in a winding up. Judges: Lewison J Citations: Times 27-Dec-2006 Statutes: Insolvency Act 1986 18(3) Jurisdiction: England and Wales Citing: Cited – Colchester Estates (Cardiff) v Carlton Industries plc ChD 30-Mar-1984 If a decision of a court has been … Continue reading In re Cromptons Leisure Machines Ltd: ChD 13 Dec 2006