The appellants had been directors of a company which fell into difficulties. A new company was begun, and traded, and the other continued for a year before being wound up by a landlord. The lease was disclaimed. Only the landlord lost out. He claimed that the directors had continued to trade with intent to defraud. The directors appealed.
Held: The section required not just that the claimant had been defrauded, but also that that had been the intention of the directors. That was not established in this case.
Judges:
Aldous, Chadwick, LJJ Munby J
Citations:
Times 12-Mar-2003, [2003] EWCA Civ 289, Gazette 15-May-2003, [2003] BPIR 973, [2003] 2 BCLC 53, [2003] Ch 552, [2003] 2 WLR 1521, [2003] BCC 540
Links:
Statutes:
Insolvency Act 1986 213 216, Companies Act 1948 332(1)
Jurisdiction:
England and Wales
Citing:
Cited – In re Gerald Cooper Chemicals Ltd ChD 1978
A business might be found to have been conducted in such a way as to defraud creditors even though only one act of defrauding had been found and one creditor defrauded. . .
Lists of cited by and citing cases may be incomplete.
Insolvency, Company
Updated: 16 September 2022; Ref: scu.180038
