Search Results for: Insolvency Act 1986 8

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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

In re a Debtor (No 1 of 1987), ex parte the Royal Bank of Scotland: CA 1989

A statutory demand as served showed an incorrectly calculated sum owed and was in the wrong form. Held: The application to set the demand aside was refused. A statutory demand should not be set aside for a mere technicality.Lord Justice Nicholls said: ‘The question arising on this appeal concerns the exercise by the court of … Continue reading In re a Debtor (No 1 of 1987), ex parte the Royal Bank of Scotland: CA 1989

Ben Hashem v Ali Shayif and Another: FD 22 Sep 2008

The court was asked to pierce the veil of incorporation of a company in the course of ancillary relief proceedings in a divorce. H had failed to co-operate with the court. After a comprehensive review of all the authorities, Munby J said: ‘The common theme running through all the cases in which the court has … Continue reading Ben Hashem v Ali Shayif and Another: FD 22 Sep 2008

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

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

Greenhaven Motors Limited (In Liquidation) and Another v BG Funding Limited and Another: CA 31 Jul 1998

Citations: [1998] EWCA Civ 1365 Statutes: Insolvency Act 1986 167 Jurisdiction: England and Wales Citing: Cited – In re Edennote Ltd (No 2) ChD 1997 Sanction was sought against a liquidator. Lightman J said: ‘The question is the commercial best interests of the company, reflected prima facie, by the commercial judgment of the liquidator, a … Continue reading Greenhaven Motors Limited (In Liquidation) and Another v BG Funding Limited and Another: CA 31 Jul 1998

Anglo American Investments Limited v Barber: CA 22 Jul 1998

The defendant had borrowed money from the plaintiff, and a director made an oral promiose not to seek repayment until the defendant could afford it. The claimant went into liquidation. Held: The defence was incredible and had no prospect of success. Citations: [1998] EWCA Civ 1258 Jurisdiction: England and Wales Citing: Cited – Alpine Bulk … Continue reading Anglo American Investments Limited v Barber: CA 22 Jul 1998

Smith (a bankrupt) v Braintree District Council: HL 1989

The House considered the effects of bankruptcy on the imposition of a committal to imprisonment in default of paying rates. The purpose of section 285 is to preserve the estate of the bankrupt for the benefit of his unsecured creditors.Lord Jauncey of Tullichettle said that, in view of the changes in policy shown by the … Continue reading Smith (a bankrupt) v Braintree District Council: HL 1989

Ramlort Ltd v Michael James Meston Reid: CA 8 Jul 2004

The company sought to claim under a life policy. The deceased had died in Scotland insolvent. The trustee of the policy had declared that he held it on trust for the claimant, but the defendant, the judicial factor of the estate, said the declaration of trust was ineffective as a transaction at an undervalue. The … Continue reading Ramlort Ltd v Michael James Meston Reid: CA 8 Jul 2004

Hughes and others v Hannover Re Ruckversicherungs-Aktiengesellschaft: CA 28 Jan 1997

An insolvency court answering an international call for assistance has the full range of remedies available to it. It may exercise ‘its own general jurisdiction and powers’ as well as the insolvency laws of England and the corresponding laws of the requesting state. The court identified three categories of assistance an English court might make … Continue reading Hughes and others v Hannover Re Ruckversicherungs-Aktiengesellschaft: CA 28 Jan 1997

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

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

Re Arrows Ltd (No 4): CA 8 Apr 1993

A Civil Court cannot stop the Serious Fraud Office using evidence which had been gathered under compulsion during Insolvency interviews under s236. Any element of confidentiality was overriden. Citations: Independent 08-Apr-1993, Gazette 09-Jun-1993 Statutes: Criminal Justice Act 1987 2(8) 3, Insolvency Act 1986 236 Jurisdiction: England and Wales Citing: Appeal from – Re Arrows Ltd … Continue reading Re Arrows Ltd (No 4): CA 8 Apr 1993

In Re Inside Sport Ltd: CACD 27 Nov 1998

Where a dispute arose as to the identity of a voluntary liquidator, the parties should resolve the dispute by an application to the court for the appointment of a voluntary liquidator. It was wrong to seek instead the compulsory winding up of the company. Citations: Times 27-Nov-1998 Statutes: Insolvency Act 1986 171 Jurisdiction: England and … Continue reading In Re Inside Sport Ltd: CACD 27 Nov 1998

PSV 1982 Ltd v Langdon: CA 12 Oct 2022

Judges: Lord Justice Lewison Lady Justice Asplin And Lord Justice Arnold Citations: [2022] EWCA Civ 1319, [2022] WLR(D) 396 Links: Bailii, WLRD Statutes: Insolvency Act 1986 217 Jurisdiction: England and Wales Insolvency Updated: 19 October 2022; Ref: scu.681873

West Mercia Safetywear Ltd v Dodds: CA 1988

If a company continues to trade whilst insolvent but in the expectation that it would return to profitability, it should be regarded as trading not for the benefit of the shareholders, but for the creditors also. If there is a possibility of insolvency, even a written consent will not totally safeguard against a claim from … Continue reading West Mercia Safetywear Ltd v Dodds: CA 1988

Quicksons (South and West) Limited v Katz, Kelmanson: ChD 8 Aug 2003

Application had been made for the removal of the liquidators, who sought security for their costs of defending the application. They said that the company had made several substantial payments to reduce borrowings in the time shortly before the liquidation, increasing unsecured creditors and reducing the secured creditor liabilities. The claimants said the liquidation had … Continue reading Quicksons (South and West) Limited v Katz, Kelmanson: ChD 8 Aug 2003

In re Highfield Commodities Ltd: ChD 1985

The court’s discretion in appointing provisional liquidators is unfettered provided it is exercised in a ‘proper judicial manner’. Sir Robert Megarry V-C said: ‘I would respectfully express my complete agreement with the view taken by [the judge]. I do not think that the old authorities, properly read, had the effect of laying down any rule … Continue reading In re Highfield Commodities Ltd: ChD 1985

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

Johnson and Another v Davis and Another: CA 18 Mar 1998

The court was asked: ‘whether or not the appellants were released from their obligation under a covenant to indemnify the respondents against claims arising under a lease by reason of the terms of an individual voluntary arrangement made under part VIII of the Insolvency Act 1986 by a co-obligee who was liable, jointly with the … Continue reading Johnson and Another v Davis and Another: CA 18 Mar 1998

Williams and Another v Broadoak Private Finance Ltd and Others: ChD 4 Apr 2018

Application for an order under paragraph 71 of Schedule B1 to the Insolvency Act 1986 (as amended) seeking the court’s permission to dispose of the freehold land known as Pier Hotel and situated at Hamilton Street, Birkenhead as if it were not subject to various security interests together with an order as to the application … Continue reading Williams and Another v Broadoak Private Finance Ltd and Others: ChD 4 Apr 2018

Secretary of State for Trade and Industry v Christopher Paul Reynard: CA 18 Apr 2002

A company director was examined in court, in the course of company director disqualification proceedings. The judge was so concerned by his behaviour as a witness, as to extend the period of disqualification. He had appealed, and the Secretary of State appealed a reduction in the disqualification period. Held: The disqualification proceedings were themselves a … Continue reading Secretary of State for Trade and Industry v Christopher Paul Reynard: CA 18 Apr 2002

Oxonica Energy Ltd v Neuftec Ltd: PatC 5 Sep 2008

The parties disputed the meaning of an patent and know how licence. The parties disputed whether the agreement referred to IP rights before formal patents had been granted despite the terms of the agreement. Held: ‘The secret of drafting legal documents was best described by Nicolas Boileau, who was not only a literary critic but … Continue reading Oxonica Energy Ltd v Neuftec Ltd: PatC 5 Sep 2008

Mountney v Treharne: CA 8 Aug 2002

In ancillary relief proceedings in a divorce, the husband had been ordered to transfer his interest in property to his wife. Before it was put into effect, he became insolvent. The wife and receiver competed for the interest to have been transferred. Held: Upon the order taking effect (upon the decree absolute), the wife acquired … Continue reading Mountney v Treharne: CA 8 Aug 2002

Mazur Media Limited and Another v Mazur Media Gmbh in Others: ChD 8 Jul 2004

Proceedings were brought in England. The respondents sought a stay, saying the company was subject to insolvency proceedings in Germany. Held: Our domestic insolvency law was not applicable to foreign proceedings, and so could not be used to order a stay of proceedings here. (a) the English court has jurisdiction to determine Apex’s claim for … Continue reading Mazur Media Limited and Another v Mazur Media Gmbh in Others: ChD 8 Jul 2004

In re Rottmann (a Bankrupt): ChD 20 May 2008

The subject of the bankruptcy proceedings asked that the petition be heard in private so as not to prejudice pending criminal proceedings in a foreign jurisdiction. Held: The bankrupt would be required to answer questions which might be self incriminating. The court had power to hear the matter in private, and would do so, but … Continue reading In re Rottmann (a Bankrupt): ChD 20 May 2008

Re Storm Funding Ltd: ChD 18 Dec 2013

‘The administrators of 14 companies in the Lehman Brothers group apply for directions as to the potential liabilities of those companies to make payments to or for the benefit of the Lehman Brothers Pension Scheme (the scheme) established principally for the benefit of persons employed by Lehman Brothers Limited (LBL) but seconded to work for … Continue reading Re Storm Funding Ltd: ChD 18 Dec 2013

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

Stocznia Gdanska Sa v Latreefers Inc: ComC 21 Dec 1998

In some cases the appointment of a provisional liquidator of an insolvent company may be justified because of his ability to investigate possible claims against directors for fraudulent or wrongful trading. Judges: Lloyd J Citations: [1998] EWHC 1203 (Comm), [1999] 1 BCLC 271 Links: Bailii Statutes: Insolvency Act 1986 Jurisdiction: England and Wales Cited by: … Continue reading Stocznia Gdanska Sa v Latreefers Inc: ComC 21 Dec 1998

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

American Express International Banking Corporation v Hurley: ChD 1985

The property mortgaged was specialised sound and lighting equipment used at pop concerts. The mortgagee’s guarantor was dissatisfied with the way in which the receiver sold the equipment. Held: Where a company receiver was appointed under a charge in common form, he acted as the agent of the the mortgagor until the mortgagor’s liquidation. Something … Continue reading American Express International Banking Corporation v Hurley: ChD 1985

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

Innovate Logistics Ltd v Sunberry Properties Ltd: CA 18 Nov 2008

Citations: [2008] EWCA Civ 1321, [2008] NPC 129, [2009] BCC 164, [2009] 1 BCLC 145 Links: Bailii Statutes: Insolvency Act 1986 Jurisdiction: England and Wales Citing: See Also – Innovate Logistics Ltd v Sunberry Properties Ltd (Orders) CA 18-Nov-2008 . . Lists of cited by and citing cases may be incomplete. Landlord and Tenant, Insolvency … Continue reading Innovate Logistics Ltd v Sunberry Properties Ltd: CA 18 Nov 2008

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

In Re A Company (No 008174 of 1999): ChD 2 Nov 1999

Where a school made teachers redundant because of insolvency, and gave notice to teachers to the end of the summer term, that was to include the summer holidays, and the pay until the end of the holidays was properly claimable against the school, and if necessary against the Secretary of State. The holiday related to … Continue reading In Re A Company (No 008174 of 1999): ChD 2 Nov 1999

In Re A Debtor (No 90 of 1997): ChD 1 Jul 1998

Ordinarily the court would avoid two actions on similar facts where inconsistent decisions might be reached, but where issues on setting aside a statutory demand were genuinely separate, the separate actions could continue. Citations: Times 01-Jul-1998 Statutes: Insolvency Rules 1986 (1986 No 1925) 6.5.4(d) Jurisdiction: England and Wales Insolvency Updated: 24 July 2022; Ref: scu.81672