The Commissioners appealed against a refusal of their application for a revocation of the defendant’s voluntary arrangement in that it had failed to comply with section 4. They complained that the arrangement was unfair to them. It had been agreed to pay football creditors in full at the expense of others, in order to avoid penalties imposed by the Football League.
Held: The purchasers agreed to pay the football debts from their own assets. The voluntary arrangement dealt with the unpaid creditors. The scheme of arrangements system is intended to be flexible, and this scheme was proper.
Judges:
Lord Justice Mance Lord Chief Justice Of England And Wales Lord Justice Neuberger
Citations:
[2004] EWCA Civ 655
Links:
Statutes:
Jurisdiction:
England and Wales
Citing:
Cited – Buchler and another (as joint liquidators of Leyland DAF Limited) v Talbot and another (as joint administrative receivers of Leyland DAF Limited) and Stichting Ofasec and others HL 4-Mar-2004
The liquidator sought to recover his expenses from assets charged under a floating charge in priority to the chargee.
Held: Barleycorn was decided in error. The liquidators costs incurred in an insolvent winding up were not to be charged . .
Cited – Somji v Cadbury Schweppes Plc CA 20-Dec-2000
Where a party’s agreement to an individual voluntary arrangement had been obtained by an advantage offered to that creditor but not disclosed to others, the entire arrangement could be set aside. In this case the offer to purchase a debt after the . .
Cited – Bristol Airport Plc and Another v Powdrill and Others CA 21-Dec-1989
An airline company went into administration. The airport seized two airplanes. The administrators claimed they were property within the administration, could not be seized without a court order, and the court should exercise its discretion not to . .
Cited – British Eagle International Airlines Ltd v Compagnie National Air France HL 1975
British Eagle, which had gone into liquidation. The parties disputed a contract attempting to reset the ranking of debts. The House was asked whether there was a debt due to the insolvent company at the commencement of its winding-up, to which the . .
Appeal from – The Commissioners of the Inland Revenue v Wimbledon Football Club Ltd and Others ChD 11-May-2004
. .
Cited by:
Appealed to – The Commissioners of the Inland Revenue v Wimbledon Football Club Ltd and Others ChD 11-May-2004
. .
Lists of cited by and citing cases may be incomplete.
Insolvency
Updated: 11 June 2022; Ref: scu.197867
