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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 certicate as to solvency before resolving to reduce the company capital and paying a dividend. Held: When makingsuch a statement, the directors were not being asked what would be the position if a … Continue reading BTI 2014 Llc v Sequana Sa and Others: ChD 11 Jul 2016

BTI 2014 Llc v Sequana SA and Others: CA 6 Feb 2019

The Court considered a Director’s duty to act in the interests of his company’s creditors. The Directors were said to have paid out an excessive dividend to put assets beyond the reach of its creditors. Longmore, David Richards, Henderson LJJ [2019] EWCA Civ 112, [2019] 2 All ER (Comm) 13, [2019] BCC 631, [2019] 2 … Continue reading BTI 2014 Llc v Sequana SA and Others: CA 6 Feb 2019

The Solicitor for the Affairs of HM Treasury v Doveton and Another: ChD 13 Nov 2008

The claimant requested the revocation of a grant of probate to the defendant. They had suspicions about the will propounded and lodged a caveat which was warned off and the grant completed. In breach of court orders, the defendant had transferred substantial estate assets abroad. The defendant said that the burden of proving that the … Continue reading The Solicitor for the Affairs of HM Treasury v Doveton and Another: ChD 13 Nov 2008

Arbuthnot Leasing International Ltd v Havelet Leasing Ltd (No 2): ChD 1990

Complaint was made that before the insolvency, the director of the compay had put its assets beyond the creditors. He replied that had acted so on legal advice: ‘Mr Maughan stressed . . that what he did he did on legal advice from solicitors and counsel and without any dishonest intent. . . however, seem … Continue reading Arbuthnot Leasing International Ltd v Havelet Leasing Ltd (No 2): ChD 1990

Hill (As Trustee In Bankruptcy of Nurkowski) v Spread Trustee Company Ltd and Another: CA 12 May 2006

The defendants sought relief for transactions entered into at an undervalue. The bankrupt had entered into charges and an assignment of a loan account in their favour before his bankruptcy, and the trustee had obtained an order for them to be set aside as a fraud on his creditors. Held: To have such orders set … Continue reading Hill (As Trustee In Bankruptcy of Nurkowski) v Spread Trustee Company Ltd and Another: CA 12 May 2006

Chohan v Saggar: ChD 1992

Section 423(3) of the 1986 Act requires a plaintiff to show a dominant purpose to remove assets from the reach of actual or potential claimants or creditors, but not excluding the possibility that there might be other purposes behind the relevant . .

In Re Banco Nacional De Cuba: ChD 7 Jun 2001

Where it was alleged that shares in a UK company had been sold at an undervalue, so as to allow a challenge in insolvency proceedings, the leave of the court was still required if the pleadings were to be served abroad. When the court considered . .

Barons Bridging Finance 1 Ltd and Others v Barons Finance Ltd: CA 14 Jun 2016

Appeal against finding that an assignment of book debts was void, as it had been made after the commencement of the Company’s winding up or, even if that were not the case, should be set aside (a) under section 238 of the Act as a transaction at an undervalue and (b) under section 423 of … Continue reading Barons Bridging Finance 1 Ltd and Others v Barons Finance Ltd: CA 14 Jun 2016

Bilta (UK) Ltd and Others v Nazir and Others: ChD 30 Jul 2012

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

Bishopsgate Investment Management Ltd (In Provisional Liquidation) v Maxwell and Another: CA 13 May 1992

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

Brook v Reed: CA 25 Mar 2011

The court was asked ‘What relation should the costs and remuneration bear to the circumstances, and in particular the size, of the bankruptcy?’ The bankrupt had considered that the costs first awarded to the trustee in bankruptcy and the trustee’s solicitors were disproportionate. On appeal they had been reduced, but he appealed again seeking a … Continue reading Brook v Reed: CA 25 Mar 2011

Warwick (Formerly Yarwood) v Trustee In Bankruptcy of Clive Graham Yarwood: ChD 13 Sep 2010

The trustee sought to have set aside as an unlawful preference, the payment of 75% of the proceeds of sale of the former matrimonial home to the bankrupt’s wife, saying that the payment had been made after the presentation of the petition. The parties had previously compromised a claim for ancillary relief in the divorce … Continue reading Warwick (Formerly Yarwood) v Trustee In Bankruptcy of Clive Graham Yarwood: ChD 13 Sep 2010

Giles v Rhind: CA 17 Oct 2002

An action by a company under a shareholder’s agreement was compromised. The other shareholder now sought to commence an action against the party in breach for his personal losses. The defendant argued that the company’s compromise was binding also . .