The bankrupt had continued to run his restaurant for a year, by having another company collect his receipts for him. The trustee had obtained a declaration that the sum was held in trust for the bankrupt’s estate. The director of the company who had collected the fund had not attended on the first hearing, and had had the declaration set aside. The trustee appealed.
Held: The appeal succeeded. It as inherent in the power to revisit a court order that it should only be done if there was a change of circumstances. The director had not given any sufficient explanation as to why he had not attended the first hearing, and therefore the original order was re-einstated.
Judges:
Laddie J
Citations:
Times 28-Apr-2005
Jurisdiction:
England and Wales
Citing:
Cited – In re a Debtor (No 32 SD 1991) ChD 1993
. .
Cited – In Re A Debtor (No 32 of 1993) ChD 1-Mar-1994
A voluntary arrangement can be offered where only one creditor may stay bankruptcy proceedings. Rejection of less than the full amount by a petitioning creditor was not necessarily unreasonable. . .
Lists of cited by and citing cases may be incomplete.
Insolvency, Litigation Practice
Updated: 27 June 2022; Ref: scu.226000