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 entitled to damages. They do not depend on an exercise of discretion by the court.’
Although there was no express reference in the 1986 legislation to non-provable liabilities, once all liabilities for which statutory provision has been made have been met by a liquidator, anyone with a non-provable claim would no longer be precluded from enforcing it by proceedings. Accordingly, a liquidator will in practice have to pay off non-statutory liabilities out of the company’s remaining assets before distributing to shareholders any surplus remaining after payment of provable debts and statutory interest.

Judges:

David Richards J

Citations:

[2005] EWHC 2870 (Ch), [2006] 1 WLR 1728, [2006] 3 All ER 697

Links:

Bailii

Statutes:

Insolvency Act 1986

Jurisdiction:

England and Wales

Citing:

See AlsoT 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 Lloyd’s but on terms that if payments were to be made, T and N should make certain reimbursements to Lloyd’s. T and N then insured with a captive company known as Curzon their . .
See AlsoRe Tand N Ltd and Others ChD 21-Oct-2004
. .
See AlsoAlexander Forbes Trustee Services Limited and Another v Jackson and Others ChD 2-Nov-2004
. .
See AlsoFreakley, Gleave, Squires, T&N Limited v Centre Reinsurance International Company, Muenchener Rueckversicherungs-Gesellschaft, European International Reinsurance Company Limited, Curzon Insurance Limited ChD 26-Nov-2004
. .
See AlsoT and N Ltd and Others, Re the Insolvency Act 1986 (Communications) ChD 8-Dec-2004
. .
CitedGlenister v Rowe CA 21-Apr-1999
The claimant sued for breach of trust. The action was re-instated after being struck out for want of prosecution, but in the meantime the defendant had been made bankrupt and then discharged from bankruptcy. An order for costs was then made which . .
CitedRe Great Orme Tramways Co 1934
A claim was made in respect of personal injuries sustained by a passenger when a tram ran out of control. The Company was in insolvent liquidation. A claim for the same amount for the same injuries could be made in contract or in tort.
Held: . .

Cited by:

See AlsoT and N Ltd and Others, In the Matter of the Insolvency Act 1986 ChD 21-Dec-2005
. .
See AlsoT and N Ltd and others v In the Matter of the Insolvency Act 1986 (Conflict of Law) ChD 21-Dec-2005
. .
See AlsoIn the Matter of T and N Limited and others ChD 12-Apr-2006
. .
CitedMcCartney and Unite The Union and Another v Nortel Networks UK Ltd (In Administration) ChD 22-Apr-2010
The administrators gave employees of the company notice of termination of their employment. Then administrators refused consent under para 43(6) to actions against the company in the Northern Ireland Industrial Tribunal for protective awards, unfair . .
CitedLB Holdings Intermediate 2 Ltd, The Joint Administrators of v Lehman Brothers International (Europe), The Joint Administrators of and Others SC 17-May-2017
In the course of the insolvent administration of the bank, substantial additional sums were received. Parties appealed against some orders made on the application to court for directions as to what was to be done with the surplus.
Held: The . .
Lists of cited by and citing cases may be incomplete.

Insolvency

Updated: 04 July 2022; Ref: scu.236339