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
Appeal against order setting aside transaction as falling foul of section 423(1) of the 1986 Act. Judges: Lord Neuberger MR, Carnwath, Sullivan LJJ Citations: [2010] EWCA Civ 1455, [2011] BPIR 39 Links: Bailii Statutes: Insolvency Act 1986 423(1) Jurisdiction: England and Wales Insolvency Updated: 31 August 2022; Ref: scu.427361
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
A tenancy granted by an insolvent farmer to his wife was set aside because of additional benefits which were granted. The tenancy was held to have been granted at an undervalue, even though the court was unable precisely to measure the value of the benefits granted. ‘In applying section 423(1)(c) to the facts of the … Continue reading Agricultural Mortgage Corporation Plc v Woodward and Another: CA 30 May 1994
