The applicant, a substantial creditor of the respondent sought the appointment of his agents as administrators. The respondent denied that it was insolvent, and claimed a set off as reason for non payment of its loan notes.
Held: The claimant was a creditor, and the company was or was likely to become insolvent. However the administrators proposals were vague and imprecise, and there was no reason to expect that they would improve on the handling of negotiations for the company’s rescue by the current directors. Application refused.
Judges:
Behrens J
Citations:
[2008] EWHC 2670 (Ch)
Links:
Statutes:
Jurisdiction:
England and Wales
Citing:
Cited – Hammonds (A Firm) v Pro-Fit USA Ltd ChD 17-Aug-2007
The claimant solicitors sought the winding up of its defendant company client for non-payment of fees including fees not yet delivered. The court refused to hold that the practices developed in relation to winding up should be imported into . .
Lists of cited by and citing cases may be incomplete.
Insolvency
Updated: 22 July 2022; Ref: scu.346877
