Search Results for: Insolvency Act 1986

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Lehman Brothers International (Europe), Re Insolvency Act 1986: CA 6 Nov 2009

The insolvent company held assets for its clients. The liquidators proposed a scheme of arrangement which would allow them protection. Held: The 2006 Act was to allow arrangements between a company and its creditors. The company’s former clients with proprietary interests which were held in trust for them by the company were not creditors. The … Continue reading Lehman Brothers International (Europe), Re Insolvency Act 1986: CA 6 Nov 2009

In the Matter of the Supporting Link; In the Matter of the Insolvency Act 1986: ChD 19 Mar 2004

The Secretary of State sought the winding up of the company. Directors offered undertakings as to their future behaviour. Held: The Court should be slow to accept such undertakings unless the Secretary consented. The company was solvent, but the basic trading model was not attractive, and allegations of fraud had been made. No great sum … Continue reading In the Matter of the Supporting Link; In the Matter of the Insolvency Act 1986: ChD 19 Mar 2004

T and N Ltd and others v In the Matter of the Insolvency Act 1986 (Conflict of Law): ChD 21 Dec 2005

Judges: David Richards J Citations: [2005] EWHC 2990 (Ch), [2006] 3 All ER 755, [2006] 1 WLR 1792 Links: Bailii Statutes: Insolvency Act 1986 Jurisdiction: England and Wales Citing: See Also – T and N Limited, Associated Companies of T and N Ltd (In Administration) v Royal and Sun Alliance Plc, and others ChD 9-May-2003 … Continue reading T and N Ltd and others v In the Matter of the Insolvency Act 1986 (Conflict of Law): ChD 21 Dec 2005

T and N Ltd and Others, Re the Insolvency Act 1986 (Communications): ChD 8 Dec 2004

Citations: [2004] EWHC 2878 (Ch) Links: Bailii Statutes: Insolvency Act 1986 Jurisdiction: England and Wales Citing: See Also – T and N Limited, Associated Companies of T and N Ltd (In Administration) v Royal and Sun Alliance Plc, and others ChD 9-May-2003 T and N had exposure to asbestosis claims; these claims were insured by … Continue reading T and N Ltd and Others, Re the Insolvency Act 1986 (Communications): ChD 8 Dec 2004

T and N Ltd and Others, In the Matter of the Insolvency Act 1986: ChD 21 Dec 2005

Judges: David Richards J Citations: [2005] EWHC 2991 (Ch), [2006] Lloyd’s Rep IR 370 Links: Bailii Statutes: Insolvency Act 1986 Jurisdiction: England and Wales Citing: See Also – T and N Limited, Associated Companies of T and N Ltd (In Administration) v Royal and Sun Alliance Plc, and others ChD 9-May-2003 T and N had … Continue reading T and N Ltd and Others, In the Matter of the Insolvency Act 1986: ChD 21 Dec 2005

Allders Department Stores Limited (In Administration) -In the Matter of the Insolvency Act 1986: ChD 16 Feb 2005

The Administrators sought directions in relation to the treatment of redundancy payments which will be due if the Administrators terminate the contracts of certain employees of the Companies. Held: The liability of administrators to pay out for redundancy of unfair dismissal claims by employees during the period of administration was not a proper expense of … Continue reading Allders Department Stores Limited (In Administration) -In the Matter of the Insolvency Act 1986: ChD 16 Feb 2005

Sigma Finance Corporation, Re Insolvency Act 1986: ChD 7 Nov 2008

Judges: Sales J Citations: [2008] EWHC 2997 (Ch) Links: Bailii Statutes: Insolvency Act 1986 Jurisdiction: England and Wales Cited by: Cited – Re Sigma Finance Corp CA 25-Nov-2008 . .At First Instance – Sigma Finance Corporation, Re; (in administrative receivership) SC 29-Oct-2009 The court considered how the losses of the insolvent company were to be … Continue reading Sigma Finance Corporation, Re Insolvency Act 1986: ChD 7 Nov 2008

In Re Insolvency Act 1986; Cork v Rawlins: ChD 27 Jun 2000

The proceeds of a permanent disability benefit insurance policy were not calculated according to the pain and suffering of the bankrupt, and were therefore distributable amongst his creditors. There was no part of it held on constructive trust for the bankrupt by the insurance company. The sums were distributable even though a decision as to … Continue reading In Re Insolvency Act 1986; Cork v Rawlins: ChD 27 Jun 2000

In re T and N Ltd and Others, Re Insolvency Act 1986: ChD 14 Dec 2005

The court considered the case of Glenister and similar and said: ‘I accept the submission that these cases are not in point to the issue as regards future asbestos claims. There is no element of discretion as regards such claims. If the ingredients of the tort of negligence . . are established, the claimants are … Continue reading In re T and N Ltd and Others, Re Insolvency Act 1986: ChD 14 Dec 2005

In the Matter of British American Racing (Holdings) Limited; In the Matter of the Insolvency Act 1986: ChD 16 Dec 2004

The company raced in the Formula 1 series. Its main sponsors had been British American Tobacco, but because of restrictions of tobacco advertising, the company lost substantial revenue and fell in to loss, and entered into an individual voluntary arrangement. It had just signed a new joint venture agreement with Honda, when BAT called in … Continue reading In the Matter of British American Racing (Holdings) Limited; In the Matter of the Insolvency Act 1986: ChD 16 Dec 2004

In re Buckingham International Plc and In the Matter of Insolvency Act 1986; Mitchell v Buckingham International Plc: CA 16 Feb 1998

Citations: [1998] EWCA Civ 247 Statutes: Insolvency Act 1986 Jurisdiction: England and Wales Citing: Cited – Roberts Petroleum Ltd v Bernard Kenny Ltd HL 2-Jan-1983 The plaintiff supplied petrol to the defendant but had not been paid. Anticipating the defendant winding up, the plaintiff got judgment and a charging order nisi. The defendant appealed against … Continue reading In re Buckingham International Plc and In the Matter of Insolvency Act 1986; Mitchell v Buckingham International Plc: CA 16 Feb 1998

Colt Telecom Group Plc, In the Matter of the Insolvency Act 1986: ChD 20 Dec 2002

The Hon Mr Justice Jacob [2002] EWHC 2815 (Ch), [2007] Lloyd’s Rep PN 23, [2003] BPIR 324 Bailii Insolvency Act 1986 England and Wales Citing: See Also – Highberry Limited, Highberry Llc v Colt Telecom Group Plc; in Re Colt Telecom Group plc (No 1) ChD 25-Nov-2002 Application for disclosure of documents, the provision of … Continue reading Colt Telecom Group Plc, In the Matter of the Insolvency Act 1986: ChD 20 Dec 2002

Churchill and Another v First Independent Factors and Finance Ltd.: CA 30 Nov 2006

‘the circumstances in which a person who was a director of a company when it went into insolvent liquidation may be brought within an exception to the provisions of sections 216 and 217 of the Insolvency Act 1986 (‘the Act’) – provisions which would otherwise render that person liable for the debts and liabilities of … Continue reading Churchill and Another v First Independent Factors and Finance Ltd.: CA 30 Nov 2006

Cowlishaw and Another v O and D Building Contractors Ltd: ChD 8 Oct 2009

Reserved judgement on an application by administrators for an order pursuant to section 236 of the Insolvency Act 1986 seeking provision of a wide range of documents from the respondent building contractors. Judges: HHJ David Cooke Citations: [2009] EWHC 2445 (Ch) Links: Bailii Statutes: Insolvency Act 1986 236 Jurisdiction: England and Wales Insolvency Updated: 22 … Continue reading Cowlishaw and Another v O and D Building Contractors Ltd: ChD 8 Oct 2009

Hollicourt (Contracts) Ltd (In Liquidation) v Bank of Ireland: ChD 17 Dec 1999

A company’s account was in credit at all times, but was, unknown to the bank, in winding up proceedings. The bank continued to honour cheques, and was found to have been making dispositions of the company’s assets under the section. Accordingly the payments were void and ineffective from the date of the commencement of the … Continue reading Hollicourt (Contracts) Ltd (In Liquidation) v Bank of Ireland: ChD 17 Dec 1999

Secretary of State for Employment v Spence: CA 1986

The employers went into receivership in November 1983. A number of the employees were made redundant but the receiver hoped to carry on with the remaining workforce until February. However, a major customer threatened to withdraw its custom unless the undertaking had been sold as a going concern by 24 November. Negotiations for a sale … Continue reading Secretary of State for Employment v Spence: CA 1986

In Re Dicksmith (Manufacturing) Ltd (In Liquidation): ChD 7 Jul 1999

The power of a liquidator in voluntary liquidation proceedings, to apply to the court to be allowed to exercise powers normally reserved to a liquidator appointed by the court, extended beyond matters such as litigation to protect assets and ensure pari passu distribution among creditors. The power could also be used to allow an application … Continue reading In Re Dicksmith (Manufacturing) Ltd (In Liquidation): ChD 7 Jul 1999

First Independent Factors and Finance Ltd v Mountford: ChD 23 Apr 2008

The claimant factors sought to attach personal liability to the debts of the company to the defendant director saying that he was in breach of section 216. Judges: Lewison J Citations: [2008] EWHC 835 (Ch) Links: Bailii Statutes: Insolvency Act 1986 216 Jurisdiction: England and Wales Company, Insolvency Updated: 14 July 2022; Ref: scu.267061

Practice Statement (Administration order: Reports): ChD 15 Apr 2002

The statement was issued as a gloss on the 1994 practice statement. A party wishing to restrict access to all or any part of an independent report prepared in support of an application for an administration order must be ready to support their application with proper reasons. Each application must be dealt with on its … Continue reading Practice Statement (Administration order: Reports): ChD 15 Apr 2002

Official Receiver v Wadge Rapps and Hunt (a firm) and another and two other actions: HL 31 Jul 2003

(Orse In re Pantmaenog Timber Co Ltd)The Receiver sought to use information obtained under section 236 (documents recovered from the directors’ solicitors) in disqualification proceedings. Held: The appeal succeeded. The Act had explicitly given the requisite powers to the receiver whether or not he was the liquidator. Nor was the purpose of the use restricted. … Continue reading Official Receiver v Wadge Rapps and Hunt (a firm) and another and two other actions: HL 31 Jul 2003

Bank of Ireland v Hollicourt (Contracts) Limited: CA 20 Oct 2000

A bank continued to pay on cheques presented to it against the company’s bank account even after the presentation of a petition for bankruptcy. The liquidator sought recovery of the amounts paid from the bank as well as the payees. It was held that the legislation made the disposition void, but that did not operate … Continue reading Bank of Ireland v Hollicourt (Contracts) Limited: CA 20 Oct 2000

Official Receiver As Liquidator of Celtic Extraction Ltd and Bluestone Chemicals Ltd v Environmental Agency: CA 14 Jul 1999

A waste management licence is ‘property’ for the purposes of the Act. Citations: [1999] EWCA Civ 1835, [2001] Ch 475 Links: Bailii Statutes: Insolvency Act 1986 Jurisdiction: England and Wales Cited by: Cited – Ultraframe (UK) Ltd v Fielding and others ChD 27-Jul-2005 The parties had engaged in a bitter 95 day trial in which … Continue reading Official Receiver As Liquidator of Celtic Extraction Ltd and Bluestone Chemicals Ltd v Environmental Agency: CA 14 Jul 1999

In re Seagull Manufacturing Co Ltd: ChD 1992

The court considered the power of an English court over a foreign resident under section 133. Held: In contrast with the private examination provisions, on its true construction section 133 applies to those who are within the class of persons specified in subsection (1), namely those who have voluntarily participated in the affairs of the … Continue reading In re Seagull Manufacturing Co Ltd: ChD 1992

In Re Seagull Manufacturing Co Ltd (In Liquidation); Tucker: CA 22 Feb 1993

The court has jurisdiction to order the public examination of a company director in in a compulsory liquidation about the affairs of the company, even though he might not be within the jurisdiction. The court found no reasons of comity which would prevent those who voluntarily were officers or otherwise participated in the formation or … Continue reading In Re Seagull Manufacturing Co Ltd (In Liquidation); Tucker: CA 22 Feb 1993

Acts

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Mond and Another v Hammond Suddards and Another: CA 15 Jun 1999

The court does not have power to order the payment of a liquidator’s costs which had not been properly incurred. The costs of unsuccessful litigation were not recoverable in priority to a secured creditor in priority to the charge. As to rule 7.47(1) of the Rules: ‘But, since the point has been raised and may … Continue reading Mond and Another v Hammond Suddards and Another: CA 15 Jun 1999

Fitch v The Official Receiver: CA 15 Nov 1995

Appeals from refusals to rescind bankruptcy orders. The bankrupts had, after lodging their appeals, persuaded the petitioning creditor and several other creditors to support the application. The first bankrupt was acting as agent in negotiations which if successful would generate a commission which would clear the indebtedness. Held: The court’s rejection of the request had … Continue reading Fitch v The Official Receiver: CA 15 Nov 1995

Nationwide Building Society v Wright and Another: CA 29 Jul 2009

The trustee in bankruptcy sought to have set aside a charging order made over the bankrupt’s property before the commencement of the insolvency. Held: ‘The principle that property acquired from a debtor (in good faith and without notice of the presentation of a bankruptcy petition) is entitled to retain that property against the trustee in … Continue reading Nationwide Building Society v Wright and Another: CA 29 Jul 2009

Walker v Walker: CA 27 Jan 2005

Judges: Chadwick, Laws, Jonathan Parker LJJ Citations: [2005] EWCA Civ 247, [2005] CP Rep 33, [2006] 1 WLR 2194, [2005] 3 Costs LR 363, [2005] BPIR 454, [2005] 1 All ER 272 Links: Bailii Statutes: Insolvency Act 1986 213 214 Jurisdiction: England and Wales Company, Insolvency Updated: 12 December 2022; Ref: scu.223683

In re British and Commonwealth Holdings plc (Nos 1 and 2): HL 1993

Section 236 extended the power of a liquidator to require from the company’s officers all the documents he would reasonably need in order to fulfil his duties under the Act.Lord Slynn said: ‘The protection for the person called upon to produce documents lies, thus, not in a limitation by category of documents (‘reconstituting the company’s … Continue reading In re British and Commonwealth Holdings plc (Nos 1 and 2): HL 1993

Fenland District Council v Sheppard and Others: ChD 3 Nov 2011

Short but somewhat difficult point under the provisions governing the vesting of disclaimed property of a bankrupt’s estate under section 320 of the Insolvency Act 1986 Judges: Roth J Citations: [2011] 45 EG 96 (CS),, [2012] 2 EG 68, [2011] EWHC 2829 (Ch) Links: Bailii Jurisdiction: England and Wales Land, Insolvency Updated: 09 December 2022; … Continue reading Fenland District Council v Sheppard and Others: ChD 3 Nov 2011

BTI 2014 Llc v Sequana Sa and Others: ChD 11 Jul 2016

Allegation that the payment of dividends was in breach of Part 23 of the 2006 Act. The direcors had signed the necessary certificate as to solvency before resolving to reduce the company capital and paying a dividend. Held: When making such a statement, the directors were not being asked what would be the position if … Continue reading BTI 2014 Llc v Sequana Sa and Others: ChD 11 Jul 2016

HM Revenue and Customs v Begum and Others: ChD 15 Jul 2010

The Commissioners claim was founded in an alleged conspiracy from a ‘missing trader intra-community fraud’ amounting to andpound;96 million. Held: Section 423 had extra territorial effect. Judges: David Richards J Citations: [2010] EWHC 1799 (Ch), [2011] BPIR 59 Links: Bailii Statutes: Insolvency Act 1986 423 Jurisdiction: England and Wales Citing: Cited – Regalway Care Ltd … Continue reading HM Revenue and Customs v Begum and Others: ChD 15 Jul 2010

HMRC v Portsmouth City Football Club Ltd and Others: ChD 5 Aug 2010

The Revenue sought the defendant’s liquidation, challenging the sum fixed to be due by the chairman of the meeting and the football rules which gave preference to football debts over those of others. The dispute was as to treament of receipts for players’ image and associated rights. They were paid into discretionary trust funds, and … Continue reading HMRC v Portsmouth City Football Club Ltd and Others: ChD 5 Aug 2010

Hunt v Yearwood-Grazette: ChD 7 Apr 2009

The bankrupt wished to discharge his bankruptcy debt, but challenged the trustee’s fees. Held: The court approved application of the Practice Statement 2004.Proudman J said: ‘The court’s task is to balance all the various criteria, resolving any conflict between them arising in the particular case, in order to arrive at the proper level of remuneration. … Continue reading Hunt v Yearwood-Grazette: ChD 7 Apr 2009

Phillips (Liquidator of A J Bekhor and Co) and Another v Brewin Dolphin Bell Lawrie Limited and Another: CA 17 Mar 1999

When considering whether a breach went to the root of a contract, an associated contract could be split off, even though it would not be split off for insolvency purposes when asking whether a transaction was at an undervalue. Judges: Morritt LJ, Lord Woolf MR Citations: Times 30-Mar-1999, [1999] BCC 557, [1999] EWCA Civ 1007, … Continue reading Phillips (Liquidator of A J Bekhor and Co) and Another v Brewin Dolphin Bell Lawrie Limited and Another: CA 17 Mar 1999

Raja v Rubin and Another: CA 19 Mar 1999

Having waived his right to a dividend under a voluntary arrangement, a creditor could not object to its later variation to include other creditors, despite an absence of explicit power in the deed for this purpose. Waiver should have been made explicit. Citations: Times 14-Apr-1999, [1999] EWCA Civ 1039, [1999] 3 All ER 72 Statutes: … Continue reading Raja v Rubin and Another: CA 19 Mar 1999

Noble v Box and Others (Transfer of Undertakings): EAT 29 Mar 2021

Transfer of Undertakings The appeal is one in which no party other than the Appellant was represented. That representative, although experienced in the employment law field, is not a qualified lawyer. No authority was cited to the EAT, and the decision is one which should be treated with care. However the EAT held that the … Continue reading Noble v Box and Others (Transfer of Undertakings): EAT 29 Mar 2021

Raymond Saul and Co (A Firm) v Holden and Another; In re Hemming (deceased): ChD 12 Nov 2008

The claimant was sole residuary legatee of his mother’s estate. He became bankrupt, but was released by automatic discharge from the bankruptcy before the administration of the estate was completed. He challenged the solicitors who wished to pay the estate to his trustee. Held: The value of the estate was payable to the trustee in … Continue reading Raymond Saul and Co (A Firm) v Holden and Another; In re Hemming (deceased): ChD 12 Nov 2008

Atrium Traing Services Ltd; Smailes and Another v McNally and Others: ChD 27 Sep 2013

Liquidators of the company brought proceedings alleging fraudulent trading and trading whilst insolvent by its former directors. An application was made for an in-time application for an extension of time for disclosure. Held: The Court should scrutinise an application for extension more rigorously than before the Jackson reforms and must firmly discourage any easy assumption … Continue reading Atrium Traing Services Ltd; Smailes and Another v McNally and Others: ChD 27 Sep 2013

Schmitt v Deichmann and Others: ChD 23 Jan 2012

The court heard appeal from an Order granting the applicant, the German administrator of Phoenix Kapitaldienst GmbH, recognition under the common law and authority to exercise the powers afforded to licensed insolvency practitioners under the Insolvency Act 1986. The Recognition Order was made on a without notice application. Judges: Proudman J Citations: [2012] EWHC 62 … Continue reading Schmitt v Deichmann and Others: ChD 23 Jan 2012

In Re Devon and Somerset Farmers Ltd: ChD 25 May 1993

An Industrial and Provident Societies Act society is unregistered and is therefore not a company for the purposes of s40. Had that been intended express statutory provision would have been made. Judges: Hague QC J Citations: Times 25-May-1993, Gazette 01-Sep-1993, [1993] BCC 410 Statutes: Insolvency Act 1986 40 251, Industrial and Provident Societies Act 1965, … Continue reading In Re Devon and Somerset Farmers Ltd: ChD 25 May 1993

In Re Thirty-Eight Building Ltd: ChD 14 Jan 1999

For identifying whether a declaration of trust in favour of an employees’ pension scheme was preferential, the test was by reference to the trustees collectively. This was so under the section despite the close identity of the trustees with the directors. Citations: Times 14-Jan-1999 Statutes: Insolvency Act 1986 239 435(5)(b) Jurisdiction: England and Wales Insolvency … Continue reading In Re Thirty-Eight Building Ltd: ChD 14 Jan 1999

Re Vehicle Options Ltd: 21 Feb 2002

The court accepted undertakings with regard to the conduct of a franchised vehicle-leasing broker. The Secretary of State consented to the order. Judges: Park J Citations: Unreported, 21 February 2002 Jurisdiction: England and Wales Cited by: Cited – In the Matter of the Supporting Link; In the Matter of the Insolvency Act 1986 ChD 19-Mar-2004 … Continue reading Re Vehicle Options Ltd: 21 Feb 2002

Linden Gardens Trust Ltd v Lenesta Sludge Disposals Ltd and Others; St. Martins Property Corporation Ltd v Sir Robert McAlpine: HL 8 Dec 1993

A contractor had done defective work in breach of a building contract with the developer but the loss was suffered by a third party who had by then purchased the development. The developer recovered the loss suffered by the purchaser. Held: The benefit of a contract may be assigned to a third party without the … Continue reading Linden Gardens Trust Ltd v Lenesta Sludge Disposals Ltd and Others; St. Martins Property Corporation Ltd v Sir Robert McAlpine: HL 8 Dec 1993

Allen v Hurst and Others: ChD 26 Aug 2022

Applicant’s application for an order under s.423 of the Insolvency Act 1986 to set aside the Declaration of Trust in respect of the Property which he maintains was entered into for the purpose of putting assets beyond the reach of creditors. Judges: ICC Judge Barber Citations: [2022] EWHC 2204 (Ch) Links: Bailii Statutes: Insolvency Act … Continue reading Allen v Hurst and Others: ChD 26 Aug 2022