The bank went into adminstration under special arrangements. The administrators of KSF applied to the Chancery Division for directions as to the applicability of the rule in Cherry v Boultbee.
Held: The rule was not excluded. The administrators of KSF might rely on it unless and until KSF’s right to indemnity (as a surety) had been satisfied in full.
Judges:
Sir Andrew Morritt C
Citations:
Unreported, 18-Dec-09
Jurisdiction:
England and Wales
Cited by:
Appeal from – In re Kaupthing Singer and Friedlander Ltd SC 19-Oct-2011
The bank had been put into administrative receivership, and the court was now asked as to how distributions were to be made, and in particular as to the application of the equitable rule in Cherry v Boultbee in the rule against double proof as it . .
Lists of cited by and citing cases may be incomplete.
Insolvency, Banking
Updated: 07 August 2022; Ref: scu.449846