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
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
Citations: [2008] ScotCS CSOH – 133 Links: Bailii Statutes: Insolvency Act 1986 165 Scotland, Insolvency Updated: 19 July 2022; Ref: scu.276211
The court was asked whether the prescribed parts of the company’s net property (as defined in s.176A (6)) is available to satisfy any part of the debts due to a creditor which are secured by a floating charge in that creditor’s favour but cannot be paid out of the realisation of the net property due … Continue reading Thorniley and Another v HM Revenue and Customs and Another: ChD 5 Feb 2008
The company went into insolvent liquidation. The secretary of state was to make payments to employees and there were other state preferential creditors. At the same time a refund of VAT was due from the Commissioners of customs and Excise. Held: The sums paid out and preferential debts could be set off against the VAT … Continue reading Secretary of State for Trade and Industry v Frid: HL 13 May 2004
The forfeiture of a bankrupt’s lease is not an exercise of a security disallowing landlord from proving in the bankruptcy. the right of physical re-entry is neither a ‘security’ nor a ‘remedy’ within the meaning of those provisions, nor does it constitute ‘other proceedings’ or the execution of ‘other legal process’. The present law is … Continue reading Razzaq v Pala: QBD 6 Jun 1997
The company was said to have engaged in a fraud based on false European Trading Scheme Allowances, and had been wound up by the Revenue. The liquidators, in the company name, now sought recovery from former directors and associates. Held: The court dismissed the application: ‘First, the fact that there is, in accordance with my … Continue reading Bilta (UK) Ltd and Others v Nazir and Others: ChD 30 Jul 2012
A company liquidator applied for an order under sections 235 and 236 of the Insolvency Act 1986 that a director should disclose information to that liquidator. The Director objected that to do so would infringe his privilege against self-incrimination. In separate proceedings, heard for these purposes together, two other companies sought remedies of an account … Continue reading Bishopsgate Investment Management Ltd (In Provisional Liquidation) v Maxwell and Another: CA 13 May 1992
Application by a bankrupt, for an order directing that the Second Respondent should cease acting as solicitors for both the First Respondent (‘Avonwick’) and the Third Respondents, Moore Stephens LLP, his joint trustees in bankruptcy. Held: The appication was granted. The exercise of control of privileged information was not governed by the ownership of the … Continue reading Shlosberg v Avonwick Holdings Ltd and Others: ChD 5 May 2016
