Search Results for: Insolvency Act 1986 6

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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

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

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

Lonsdale v Howard and Hallam Ltd: CA 8 Feb 2006

The claimant sought damages after his agency with the defendants was terminated. The central issue was whether compensation was to be calculated at two years commission as derived from French practice or otherwise. Held: ‘there is no clear agreement on the principles governing the assessment of compensation under regulation 17(6) . . . the common … Continue reading Lonsdale v Howard and Hallam Ltd: CA 8 Feb 2006

Nelson v Nelson: CA 6 Dec 1996

A solicitor appealed against an order requiring him to contribute to the costs of Mareva injunction applied for on behalf of his bankrupt client. Held: Solicitors were not liable in costs personally for starting proceedings on behalf of a bankrupt. A bankrupt has power to instruct solicitor to commence proceedings. Waller LJGibson LJ said: ‘s.306 … Continue reading Nelson v Nelson: CA 6 Dec 1996

Re NP Engineering and Security Products Ltd; Official Receiver and Another v Pafundo and Another: CA 22 Oct 1996

The official receiver began director disqualification proceedings, but before the proceedings commenced, the company was wound up. Where, on an application for the disqualification of a director, the official receiver and the Secretary of State became aware that the company had in fact already been dissolved, the normal course would be to transfer the proceedings … Continue reading Re NP Engineering and Security Products Ltd; Official Receiver and Another v Pafundo and Another: CA 22 Oct 1996

Re MK Airlines Ltd: ChD 26 Apr 2012

The company had appointed administrators. They were later discharged in the belief that the company was solvent. This proved incorrect, and on a creditor’s winding up petition, new interim receivers were appointed. On the winding up, liquidators were appointed, who now sought clarification of the status of charges over the company’s assets in favour of … Continue reading Re MK Airlines Ltd: ChD 26 Apr 2012

In Re Senator Hanseatische Verwaltungsgesellschaft Mbh and Another: CA 30 Jul 1996

The Secretary of State had presented a winding up petition on public interest grounds against a company carrying on an illegal lottery. Held: The court refused the application of the Secretary of State for the appointment of a provisional liquidator; instead he granted injunctions. It was necessary to procure the cessation of the company’s business … Continue reading In Re Senator Hanseatische Verwaltungsgesellschaft Mbh and Another: CA 30 Jul 1996

In Re Edennote Ltd; Tottenham Hotspur plc v Ryman: CA 21 May 1996

The company was in liquidation. Terence Venables, who had owned the shares, had taken an assignment of a cause of action against the football club. The court had set aside that assignment, and removed the liquidator. Venables now appealed saying that the court had been wrong to intervene. Held: The appeal succeeded in part. The … Continue reading In Re Edennote Ltd; Tottenham Hotspur plc v Ryman: CA 21 May 1996

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

Henderson v 3052775 Nova Scotia Ltd: HL 10 May 2006

The liquidator had sought to set aside a transfer of company property as having been made at an undervalue. The defence was that the buyer had assumed some of the company’s debt in addition, and in effect that it was a preference on other creditors. The court had then issued an interlocutor in effect debarring … Continue reading Henderson v 3052775 Nova Scotia Ltd: HL 10 May 2006

4Eng Ltd v Harper and Others: ChD 26 Oct 2009

The claimant sought to set aside transactions entered into by the defendants which, it said were intended fraudulently to defeat claims by their creditors. Held: When considering the extent of recovery available under the sections of the 1986 Act, the court should consider general principles applicable in all areas of law. The Act did not … Continue reading 4Eng Ltd v Harper and Others: ChD 26 Oct 2009

Ram v Ram and others: CA 16 Nov 2004

Citations: [2004] EWCA Civ 1684, [2005] 2 FLR 63 Links: Bailii Statutes: Insolvency Act 1986 423 Jurisdiction: England and Wales Cited by: Cited – Her Majesty’s Attorney General v Akhter and Another CA 14-Feb-2020 Islamic Nikah Ceremony did not create a marriage The parties had undertaken, in 1998, an Islamic marriage ceremony, a Nikah. They … Continue reading Ram v Ram and others: CA 16 Nov 2004

AB Agri Ltd v Curtis and Others: Misc 22 Jul 2016

(Leeds County Court) The creditor sought to have a proof admitted for pounds 479k, but the chair admitted it only for pounds 1.00, and the IVA proposal was accepted again the wishes of the creditor. The creditor said that the IP had misunderstood the claim and should have treated it as liquidated. The chair responded … Continue reading AB Agri Ltd v Curtis and Others: Misc 22 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. Judges: Longmore, David Richards, Henderson LJJ Citations: [2019] EWCA Civ 112, [2019] 2 All ER (Comm) 13, [2019] BCC 631, … Continue reading BTI 2014 Llc v Sequana SA and Others: CA 6 Feb 2019

The Secretary of State for Trade and Industry v Goldberg, Mcavoy: ChD 26 Nov 2003

The Secretary of State sought a disqualification order. The director argued that one shoul not be made in the absence of some breach of legal duty, some dishonesty should be shown. Held: The answer was a mixture of fact and law. A breach of duty alone was neither necessary nor sufficient. Unfitness by reason of … Continue reading The Secretary of State for Trade and Industry v Goldberg, Mcavoy: ChD 26 Nov 2003

Wendy Fair (Heritage) Ltd v Hobday and Another: ChD 27 Mar 2006

Application for contribution from directors after they had traded beyond the time when any prospect of avoiding insolvent liquidation was lost. Judges: The Honourable Mr Justice Peter Smith Citations: [2006] EWHC 5803 (Ch) Links: Bailii Statutes: Insolvency Act 1986 214 Jurisdiction: England and Wales Insolvency, Company Updated: 29 September 2022; Ref: scu.241457

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

It’s A Wrap (UK) Ltd v Gula and Another: ChD 16 Sep 2005

The defendant company directors were accused of having paid dividends to themselves when the company was in fact making a loss. Held: A claim might lie, but the pleadings did not phrase it adequately, and an amendment would be improper. Though payments had been made at a time when the company ws making losses, a … Continue reading It’s A Wrap (UK) Ltd v Gula and Another: ChD 16 Sep 2005

Seager, Regina v; Regina v Blatch: CACD 26 Jun 2009

The court considered how to determine in the context of applications for confiscation orders, the value of the ‘benefit’ obtained by an offender who has been guilty of managing a company as a director in contravention of a director’s disqualification order or an undertaking not to act as a director. Held: The values were to … Continue reading Seager, Regina v; Regina v Blatch: CACD 26 Jun 2009

Sharp and Others v Woolwich Building Society: HL 6 Feb 1997

The House was asked: what is meant by the word property in a floating charge and in section 53(7) of the 1986 Act which provides for the effect of the appointment of a receiver by the holder of such a charge in the following terms: ‘(7) On the appointment of a receiver under this section, … Continue reading Sharp and Others v Woolwich Building Society: HL 6 Feb 1997

OTG Ltd v Barke and Others: EAT 16 Feb 2011

EAT TRANSFER OF UNDERTAKING – InsolvencyAdministration proceedings pursuant to Schedule B1 of the Insolvency Act 1986 are not capable of constituting ‘bankruptcy . . or . . analogous insolvency proceedings which have been instituted with a view to the liquidation of the assets of the transferor’ within the meaning of reg. 8 (7) of TUPE … Continue reading OTG Ltd v Barke and Others: EAT 16 Feb 2011

Stonham v Ramrattan and Another: CA 16 Feb 2011

The bankrupt, while solvent had acquired a property which was first put in his own sole name, but then transferred to his wife outwardly ‘in consideration of love and affection’. Several years later, on the bankruptcy, the trustee sought to have the transaction set aside. The bankrupt, now discharged, said that in fact the original … Continue reading Stonham v Ramrattan and Another: CA 16 Feb 2011

Secretary of State for Trade and Industry v Arif and Others: ChD 25 Mar 1996

The length of a director’s disqualification is not to be discounted for the time elapsed up to the hearing of the case. As to section 221 of the Companies Act, it : ‘has, at the least, two purposes. First, to ensure that those who are concerned in the direction and management of companies which trade … Continue reading Secretary of State for Trade and Industry v Arif and Others: ChD 25 Mar 1996

Ashton Investments Ltd. and Another v OJSC Russian Aluminium (Rusal) and others: ComC 18 Oct 2006

The claimants sought damages for breach of confidence saying that the defendants had hacked into their computer systems via the internet to seek privileged information in the course of litigation. The defendants denied this and said the courts had no jurisdiction. Held: The court at this stage should look no further than asking whether there … Continue reading Ashton Investments Ltd. and Another v OJSC Russian Aluminium (Rusal) and others: ComC 18 Oct 2006

Ward v Aitken and Others; In re Oasis Merchandising Services Ltd: CA 9 Oct 1996

The Court was asked as to the validity of the assignment by a liquidator to a litigation funder of the benefit of a wrongful trading claim against the directors of the company under section 214 of the IA 1986. The directors sought to stay the claim on the basis that the liquidator had no power … Continue reading Ward v Aitken and Others; In re Oasis Merchandising Services Ltd: CA 9 Oct 1996

Bank of Credit and Commerce International Sa (In Liquidation) (No 8): CA 2 Oct 1996

Not all debts which were eligible for proof in bankruptcy were also eligible for a set off. Rose Ljexplained the doctrine of equitable marshallling, saying: ‘The doctrine of marshalling applies where there are two creditors of the same debtor, each owed a different debt, one creditor (A) having two or more securities for the debt … Continue reading Bank of Credit and Commerce International Sa (In Liquidation) (No 8): CA 2 Oct 1996

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

Hardy v Focus Insurance Co (In Liquidation): ChD 19 Jul 1996

The Court has no power to direct the Official Receiver as to suspension of bankruptcy. Citations: Times 19-Jul-1996, [1997] BPIR 77 Statutes: Insolvency Act 1986 303(1) 303(2) Jurisdiction: England and Wales Cited by: Cited – Bagnall QC v the Official Receiver ChD 18-Jun-2003 The bankrupt was to receive his automatic discharge. The receiver had applied … Continue reading Hardy v Focus Insurance Co (In Liquidation): ChD 19 Jul 1996

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 A Company (No 007946 of 1993): ChD 18 Nov 1993

A Northern Ireland company can be wound up in England and Wales if its principal place of business had been in England and Wales. The company incorporated in Northern Ireland became insolvent. It sought to strike out the Secretary of State’s petition under 124A, and said it could not apply to a Northern Ireland Company. … Continue reading In Re A Company (No 007946 of 1993): ChD 18 Nov 1993

In Re A Company No 004803 of 1996: ChD 2 Dec 1996

T was the company’s bookkeeper. He was also a director but with only a small shareholding. The company fell into difficulties. He recommended economies to the other directors which were not accepted, but then he stayed on in office. The court had disqualified the other directors but not him. The Secretary of State appealed. Held: … Continue reading In Re A Company No 004803 of 1996: ChD 2 Dec 1996

Hyde and Another v Djurberg: ChD 6 May 2022

Application by the Trustees of the bankruptcy estate of Mr Djurbery for a search and seizure order pursuant to s.365 of the Insolvency Act 1986 Judges: Insolvency and Companies Court Judge Jones Citations: [2022] EWHC 1534 (Ch) Links: Bailii Jurisdiction: England and Wales Insolvency Updated: 24 July 2022; Ref: scu.679125

Commissioners of Customs and Excise v Allen: ChD 6 Feb 2003

A block order had been made transferring the duties of an insolvency practitioner to another. In the case of an individual practitioner resigning, a creditor would have to be notified so as to be allowed to object. Here, the applicant sought a review of the transfer ordered by the court, having been notified after the … Continue reading Commissioners of Customs and Excise v Allen: ChD 6 Feb 2003

In Re M (A Debtor) (488-Io of 1996): ChD 10 Feb 1999

A wife who had an order for ancillary relief in her favour, but whose husband entered into an Individual Voluntary Arrangement, was obliged to accept the allotted dividend, but her special position under the Act was also to be acknowledged. She had the choice of awaiting discharge from the IVA first. Citations: Gazette 03-Mar-1999, Times … Continue reading In Re M (A Debtor) (488-Io of 1996): ChD 10 Feb 1999

In Re International Bulk Commodities Ltd: ChD 26 Aug 1992

Company receivers in insolvency can include unregistered companies. Citations: Gazette 26-Aug-1992, [1993] 3 CL 247 Statutes: Insolvency Act 1986 29(2) Jurisdiction: England and Wales Cited by: Distinguished – 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 … Continue reading In Re International Bulk Commodities Ltd: ChD 26 Aug 1992

Express Electrical Distributors Ltd v Beavis and Others: CA 19 Jul 2016

Sales LJ said: validation will ordinarily only be granted ‘if there is some special circumstance which shows that the disposition in question … has been … for the benefit of the general body of unsecured creditors’. Judges: Sir Terence Etherton Ch, Patten, Sales LJJ Citations: [2016] EWCA Civ 765 Links: Bailii Statutes: Insolvency Act 1986 … Continue reading Express Electrical Distributors Ltd v Beavis and Others: CA 19 Jul 2016

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

Getliffe and Another, Re Lune Metal Products Ltd: CA 14 Dec 2006

Judges: Tucke, Carnwath, Neuberger LJJ Citations: [2006] EWCA Civ 1720, [2007] Bus LR 589 Links: Bailii Statutes: Insolvency Act 1986 Jurisdiction: England and Wales Citing: Cited – In re Clark (a bankrupt); ex parte the Trustee v Texaco Ltd ChD 1975 Walton J restated the rule in In re James: ‘the rule provides that where … Continue reading Getliffe and Another, Re Lune Metal Products Ltd: CA 14 Dec 2006

Walker and Another v National Westminster Bank Plc and Another: ChD 25 Feb 2016

The claimants, the former administrators of Sunnyside Holiday Park Ltd sought an order that the unpaid balance of their remuneration and expenses is by para 99(3) of Sch B1 Insolvency Act 1986 charged on and payable out of a sum of pounds 62,646.06 said to be payable by the first defendant (‘the Bank’) to the … Continue reading Walker and Another v National Westminster Bank Plc and Another: ChD 25 Feb 2016

Islamic Republic of Pakistan v Zardari and others: ComC 6 Oct 2006

The claimant alleged that the defendants had funded the purchase of various properties by secret and unlawful commissions taken by them whilst in power in Pakistan. They sought to recover the proceeds. They now sought permission to serve proceedings on the defendant companies abroad, outside a Lugano Convention country. Held: The claim should proced. ‘There … Continue reading Islamic Republic of Pakistan v Zardari and others: ComC 6 Oct 2006