The appointment of administrative receivers of a company with a view to realisation of certain charged assets did not deprive the directors of their duties and power to take other proceedings which did not impinge on the activities of the receivers. Even though the directors may lack power to dispose of an asset they might remain under a duty to exploit it for the benefit of the company.
Citations:
[1978] QB 814
Jurisdiction:
England and Wales
Cited by:
Cited – GE Capital Commercial Finance Ltd v Sutton; Anglo Pteroleum Ltd v Same CA 19-Mar-2004
The administrative receivers of a company sought production of documents from the company’s solicitors.
Held: The receiver was tasked to deal with the realisation of the mortgaged property, and it could not use its powers to seek to obtain . .
Cited – Ultraframe (UK) Ltd v Fielding and others ChD 27-Jul-2005
The parties had engaged in a bitter 95 day trial in which allegations of forgery, theft, false accounting, blackmail and arson. A company owning patents and other rights had become insolvent, and the real concern was the destination and ownership of . .
Lists of cited by and citing cases may be incomplete.
Company
Updated: 13 May 2022; Ref: scu.195579