The court has sufficient discretion to order that the surplus proceeds of sale of a leasehold interest could be paid to the liquidator despite his having himself disclaimed any interest in the lease. Nobody else had claimed an interest, and the creditors should receive the benefit. This was sensible despite the apparent termination of the liquidator in the lease.
Citations:
Times 22-Aug-1999
Statutes:
Insolvency Act 1986 320 315(3)
Jurisdiction:
England and Wales
Citing:
Appeal from – In Re Lee (A Bankrupt) ChD 24-Feb-1998
An order vesting a lease disclaimed by the trustee in bankruptcy, in a mortgagee, may provide that any profit which is made on a re-sale of the lease was to be paid on to the receiver for the benefit of creditors. . .
Cited by:
Appealed to – In Re Lee (A Bankrupt) ChD 24-Feb-1998
An order vesting a lease disclaimed by the trustee in bankruptcy, in a mortgagee, may provide that any profit which is made on a re-sale of the lease was to be paid on to the receiver for the benefit of creditors. . .
Lists of cited by and citing cases may be incomplete.
Insolvency
Updated: 10 May 2022; Ref: scu.82003