The appellant challenged a formal statutory demand which had led to his bankruptcy. The demand had included the anticipated cost of realising the charged property, and also had been inflated to allow for extra costs of dealing the appellant who was perceived to be recalcitrant and unco-operative. Held: The statutory demand could only include sums … Continue reading Owo-Samson v Barclays Bank Plc, Boyden: CA 21 May 2003
Citations: [1998] EWCA Civ 1365 Statutes: Insolvency Act 1986 167 Jurisdiction: England and Wales Citing: Cited – In re Edennote Ltd (No 2) ChD 1997 Sanction was sought against a liquidator. Lightman J said: ‘The question is the commercial best interests of the company, reflected prima facie, by the commercial judgment of the liquidator, a … Continue reading Greenhaven Motors Limited (In Liquidation) and Another v BG Funding Limited and Another: CA 31 Jul 1998
Application by the Company and its liquidator seeking declarations in relation to certain payments, pursuant to section 212 of the Insolvency Act 1986 and consequential orders against the First Respondent and the Second Respondent, both of whom were directors and shareholders of the Company. Judges: Insolvency and Companies Court Judge Burton Citations: [2021] EWHC 1006 … Continue reading Baker (Liquidator of TMG Brokers Limited) v Staines and Another: ChD 23 Apr 2021
Liquidators sought production of documents pursuant to sections 235 and 236 of the Insolvency Act 1986 from the accountants of the company for which the liquidators were appointed, Citations: [2014] EWHC 1134 (Ch) Links: Bailii Jurisdiction: England and Wales Insolvency Updated: 22 November 2022; Ref: scu.535477
Citations: [2007] EWCA Civ 1262 Links: Bailii Statutes: Insolvency Act 1986 112(2) Jurisdiction: England and Wales Insolvency Updated: 22 November 2022; Ref: scu.261611
The claimant sought judicial review of the respondent’s decision that he was liable, after his discharge from bankruptcy, to suffer deductions from his benefits of sums to repay an overpayment of benefit incurred before his bankruptcy. Held: The respondent’s claim under section 71(1) was a bankruptcy debt, and as such was subject to release on … Continue reading Balding, Regina (on the Application of) v Secretary of State for Work and Pensions: Admn 3 Apr 2007
Judges: Lord Justice Morritt Citations: [1998] EWCA Civ 1025, [1999] 1 WLR 129, [1999] BCC 378, [1998] 2 BCLC 526, [1999] BPIR 53 Links: Bailii Statutes: Insolvency Act 1986 168 Jurisdiction: England and Wales Insolvency, Litigation Practice Updated: 19 November 2022; Ref: scu.144504
An action by a company under a shareholder’s agreement was compromised. The other shareholder now sought to commence an action against the party in breach for his personal losses. The defendant argued that the company’s compromise was binding also against the other shareholder. Held: The company had become obliged to compromise the claim by the … Continue reading Giles v Rhind: CA 17 Oct 2002
Judges: Mr Justice Marcus Smith Citations: [2018] EWHC 1429 (Ch) Links: Bailii Statutes: Insolvency Act 1986 213 Jurisdiction: England and Wales Insolvency Updated: 18 November 2022; Ref: scu.682723
Application for a Norwich Pharmacal order against a financial institution or a financial services provider known, for the purpose of these proceedings as ‘MM’, relating to a claim that the applicant, known as ‘AA’, has against her former husband, known as ‘XY’. Judges: Mr Justice Sweeting Citations: [2022] EWHC 2627 (KB) Links: Bailii Statutes: Insolvency … Continue reading AA v JJ: KBD 29 Jul 2022
The bankrupt had received his discharge from the bankruptcy and the debts associated. After the discharge he received a statutory demand from the trustees of a pension fund claiming sums from him alleging his dishonest breach of trust. He replied by saying that he had been discharged. Held: To constitute a ‘fraudulent breach of trust’ … Continue reading Woodland-Ferrari v UCL Group Retirement Benefits Scheme: ChD 5 Jul 2002
Citations: [2004] EWCA Civ 1761 Links: Bailii Statutes: Insolvency Act 1986 263(3) Jurisdiction: England and Wales Insolvency Updated: 14 November 2022; Ref: scu.220658
The company sought to claim under a life policy. The deceased had died in Scotland insolvent. The trustee of the policy had declared that he held it on trust for the claimant, but the defendant, the judicial factor of the estate, said the declaration of trust was ineffective as a transaction at an undervalue. The … Continue reading Ramlort Ltd v Michael James Meston Reid: CA 8 Jul 2004
An Insolvency Court has the power to order a foreign non-party company to produce documents concerning foreign business despite the usual rule. Citations: Times 20-Dec-1997 Statutes: Insolvency Act 1986 236 Jurisdiction: England and Wales Insolvency Updated: 13 November 2022; Ref: scu.82061
A bankrupt’s present entitlement to compel payment of pension benefits fell to be included in the assessment of his income within the meaning of section 310(7) of the Insolvency Act. Judges: Bernard Livesey QC Citations: [2012] EWHC 909 (Ch), [2012] 1 WLR 3559, [2012] BPIR 621, [2012] WLR(D) 115, [2012] 3 All ER 1028 Links: … Continue reading Raithatha v Williamson: ChD 4 Apr 2012
The Secretary of State may perfectly properly refuse to accept offered undertakings and instead decide to prosecute company directors under the Act, even though though the terms offered were intended to give equivalent effect. The purpose of the Act’s jurisdiction is to improve the standard of company directors, and the disqualification procedure has a prohibitory … Continue reading In the Matter of Blackspur Group Plc; Secretary of State for Trade and Industry v Davies; Thomas; Thompson; Andrew: CA 19 Nov 1997
This appeal raises two closely related questions of law: whether purported execution of a foreign judgment registered in the High Court pursuant to the terms of the Lugano Convention can be execution issued in respect of the judgment debt, for the purposes of section 268(1)(b) of the Insolvency Act 1986, if the execution occurred before … Continue reading Islandsbanki Hf and Others v Stanford: CA 2 Apr 2020
Judges: ICC Judge Barber Citations: [2022] EWHC 2649 (Ch) Links: Bailii Statutes: Insolvency Act 1986 423 Jurisdiction: England and Wales Insolvency Updated: 09 November 2022; Ref: scu.682223
Citations: [2022] EWHC 2644 (Ch) Links: Bailii Statutes: Insolvency Act 1986 239 Jurisdiction: England and Wales Insolvency Updated: 07 November 2022; Ref: scu.681979
The parties had agreed to an ancillary relief order on their divorce. The husband was made bankrupt without having paid the lump sum agreed. The former wife and now claimant had received no dividend. Debts which were not provable in the bankruptcy are not released: they are untouched by the process. The former husband now … Continue reading McRoberts v McRoberts: ChD 1 Nov 2012
An insolvency court answering an international call for assistance has the full range of remedies available to it. It may exercise ‘its own general jurisdiction and powers’ as well as the insolvency laws of England and the corresponding laws of the requesting state. The court identified three categories of assistance an English court might make … Continue reading Hughes and others v Hannover Re Ruckversicherungs-Aktiengesellschaft: CA 28 Jan 1997
An adjudication of a building dispute under the Insolvency Act, was ‘other proceedings’ within the Act, and therefore before such steps were taken against a company in administration, the applicant had first to obtain leave from the court. Citations: Times 29-Jun-1999 Statutes: Housing Grants Construction and Regeneration Act 1996, Insolvency Act 1986 11(3) Jurisdiction: England … Continue reading A Straume (UK) Ltd v Bradlor Developments Ltd: ChD 29 Jun 1999
The claimant alleged that the two defendants had entered into guarantees in its favour. The court had found that the debt was only due by instalments commencing one year after the initial demand. The second defendant now argued that he was not liable at all. The company whose credit had been guaranteed had been placed … Continue reading FBME Bank Ltd v Elwes and Another: QBD 25 Jul 2012
A solicitor appealed against an order requiring him to contribute to the costs of Mareva injunction applied for on behalf of his bankrupt client. Held: Solicitors were not liable in costs personally for starting proceedings on behalf of a bankrupt. A bankrupt has power to instruct solicitor to commence proceedings. Waller LJGibson LJ said: ‘s.306 … Continue reading Nelson v Nelson: CA 6 Dec 1996
Reasons for four companies being wound up in the public interest. Judges: ICC Judge Barber Citations: [2022] EWHC 2734 (Ch) Links: Bailii Statutes: Insolvency Act 1986124A Jurisdiction: England and Wales Insolvency Updated: 03 November 2022; Ref: scu.682272
(Opinion) The bank sought production of a statutory demand issued against it by the defendant. It was said to have been served by misplaced by them, but denied that it had any valid basis. The defender alleged fraud but had not given any justification for his assertions or claim. Held: ‘the defender’s position in this … Continue reading The Royal Bank of Scotland Plc v Hill: SCS 3 Jul 2012
The official receiver began director disqualification proceedings, but before the proceedings commenced, the company was wound up. Where, on an application for the disqualification of a director, the official receiver and the Secretary of State became aware that the company had in fact already been dissolved, the normal course would be to transfer the proceedings … Continue reading Re NP Engineering and Security Products Ltd; Official Receiver and Another v Pafundo and Another: CA 22 Oct 1996
The company had appointed administrators. They were later discharged in the belief that the company was solvent. This proved incorrect, and on a creditor’s winding up petition, new interim receivers were appointed. On the winding up, liquidators were appointed, who now sought clarification of the status of charges over the company’s assets in favour of … Continue reading Re MK Airlines Ltd: ChD 26 Apr 2012
The Secretary of State had presented a winding up petition on public interest grounds against a company carrying on an illegal lottery. Held: The court refused the application of the Secretary of State for the appointment of a provisional liquidator; instead he granted injunctions. It was necessary to procure the cessation of the company’s business … Continue reading In Re Senator Hanseatische Verwaltungsgesellschaft Mbh and Another: CA 30 Jul 1996
The company was in liquidation. Terence Venables, who had owned the shares, had taken an assignment of a cause of action against the football club. The court had set aside that assignment, and removed the liquidator. Venables now appealed saying that the court had been wrong to intervene. Held: The appeal succeeded in part. The … Continue reading In Re Edennote Ltd; Tottenham Hotspur plc v Ryman: CA 21 May 1996
Creditor’s application for annulment of bankruptcy Judges: Judge Agnello KC Deputy Insolvency and Companies Court Citations: [2022] EWHC 2683 (Ch) Links: Bailii Statutes: Insolvency Act 1986 282(1)(a) Jurisdiction: England and Wales Insolvency Updated: 31 October 2022; Ref: scu.682226
Advertisement of petition was restrained where it was of a solvent company for public interest purposes. Citations: Gazette 22-Feb-1995 Statutes: Insolvency Act 1986 124A Jurisdiction: England and Wales Company Updated: 27 October 2022; Ref: scu.81812
Peter Gibson LJ said: ‘In s.217(1)(b) knowledge that it is a crime is required.’ Judges: Peter Gibson LJ, Ralph Gibson LJ Citations: [1994] 1 BCLC 637 Statutes: Insolvency Act 1986 217 Jurisdiction: England and Wales Cited by: Cited – It’s A Wrap (UK) Ltd v Gula and Another ChD 16-Sep-2005 The defendant company directors were … Continue reading Thorne v Silverleaf: CA 1994
Transcripts of Insolvency examinations need not be disclosed to defendant, if they were disclosed to the Serious Fraud Office. Citations: Independent 09-Apr-1993, Independent 14-Apr-1993 Statutes: Insolvency Act 1986 236 Jurisdiction: England and Wales Insolvency, Criminal Practice Updated: 26 October 2022; Ref: scu.85795
The administrators of a company are deemed to have accepted the employees who had been kept on after 14 days. A letter from them denying that they would accept them as employees, was insufficient to prevent adoption of the contracts. Citations: Independent 22-Mar-1994, Gazette 08-Jun-1994, Gazette 20-Apr-1994, Times 01-Mar-1994, Ind Summary 14-Mar-1994 Statutes: Insolvency Act … Continue reading Powdrill and Another v Watson and Another: CA 1 Mar 1994
Money paid at same time as charge delivered not exempt. Citations: Times 03-Jun-1993 Statutes: Insolvency Act 1986 245 (2) Jurisdiction: England and Wales Insolvency Updated: 26 October 2022; Ref: scu.84833
A Civil Court cannot stop the Serious Fraud Office using evidence which had been gathered under compulsion during Insolvency interviews under s236. Any element of confidentiality was overriden. Citations: Independent 08-Apr-1993, Gazette 09-Jun-1993 Statutes: Criminal Justice Act 1987 2(8) 3, Insolvency Act 1986 236 Jurisdiction: England and Wales Citing: Appeal from – Re Arrows Ltd … Continue reading Re Arrows Ltd (No 4): CA 8 Apr 1993
Sheriff’s failure to gain access meant that he had failed to execute the writ of fieri facias. Failure to serve writ of fieri facias is not merely a formal defect or irregularity. Citations: Ind Summary 13-Sep-1993, Times 19-Jul-1993 Statutes: Insolvency Act 1986 268(1)(b) Jurisdiction: England and Wales Litigation Practice Updated: 26 October 2022; Ref: scu.81660
Exclusive Dutch jurisdiction clause stopped a s234 order for vehicles.Receivers bound by exclusive jurisdiction clause – no order for delivery up. Citations: Times 19-Jan-1994, Ind Summary 31-Jan-1994 Statutes: Insolvency Act 1986 234 Jurisdiction: England and Wales Insolvency Updated: 26 October 2022; Ref: scu.82000
The word ‘and’ in sections 423(2)(a) and 423(2)(b) is to be read conjunctively not disjunctively. Section 238(3) is to be interpreted as requiring restoration of the former position ‘as far as possible’ or ‘as far as practicable’, and that accordingly subsequent events were not an absolute bar against setting aside the sale. Nourse LJ: ‘The … Continue reading Chohan v Saggar and Another: CA 27 Dec 1993
The liquidator had sought to set aside a transfer of company property as having been made at an undervalue. The defence was that the buyer had assumed some of the company’s debt in addition, and in effect that it was a preference on other creditors. The court had then issued an interlocutor in effect debarring … Continue reading Henderson v 3052775 Nova Scotia Ltd: HL 10 May 2006
The claimant sought damages against its former directors for negligence and breach of fiduciary duty. The defendants asked that the claims be struck out. Held: It was no longer good law that directors might leave the conduct of the company’s business to competent management. Though section 727 might give relief to directors who had been … Continue reading Equitable Life Assurance Society v Bowley and others: ComC 17 Oct 2003
The duty on company officers to disclose assets to the liquidator went beyond a duty to respond to requests, and created a positive duty to inform him of assets. Nor was the obligation to deliver up a once off event, but it was a duty continuing from time to time during the insolvency. Citations: Times … Continue reading Regina v McCredie; Regina v French: CACD 5 Oct 1999
Where a dispute arose as to the identity of a voluntary liquidator, the parties should resolve the dispute by an application to the court for the appointment of a voluntary liquidator. It was wrong to seek instead the compulsory winding up of the company. Citations: Times 27-Nov-1998 Statutes: Insolvency Act 1986 171 Jurisdiction: England and … Continue reading In Re Inside Sport Ltd: CACD 27 Nov 1998
Judges: Sir William Blackburne Citations: [2013] EWHC 685 (Ch) Links: Bailii Statutes: Insolvency Act 1986 423 Jurisdiction: England and Wales Insolvency Updated: 24 October 2022; Ref: scu.472077
Application for personal liability of company director in insolvency. Citations: [2005] EWCA Civ 554 Links: Bailii Statutes: Insolvency Act 1986 217 Jurisdiction: England and Wales Insolvency, Company Updated: 22 October 2022; Ref: scu.224837
The liquidators sought relief saying that the company had sold its principle capital asset at an undervalue to its parent company. Judges: Richards J Citations: [2010] EWHC 3349 (Ch), [2011] BPIR 876, [2011] Bus LR D93 Links: Bailii Statutes: Insolvency Act 1986 238 241 Jurisdiction: England and Wales Insolvency Updated: 21 October 2022; Ref: scu.427408
The claimant sought to set aside transactions entered into by the defendants which, it said were intended fraudulently to defeat claims by their creditors. Held: When considering the extent of recovery available under the sections of the 1986 Act, the court should consider general principles applicable in all areas of law. The Act did not … Continue reading 4Eng Ltd v Harper and Others: ChD 26 Oct 2009
Judges: Lord Justice Lewison Lady Justice Asplin And Lord Justice Arnold Citations: [2022] EWCA Civ 1319, [2022] WLR(D) 396 Links: Bailii, WLRD Statutes: Insolvency Act 1986 217 Jurisdiction: England and Wales Insolvency Updated: 19 October 2022; Ref: scu.681873
Citations: [2004] EWCA Civ 1684, [2005] 2 FLR 63 Links: Bailii Statutes: Insolvency Act 1986 423 Jurisdiction: England and Wales Cited by: Cited – Her Majesty’s Attorney General v Akhter and Another CA 14-Feb-2020 Islamic Nikah Ceremony did not create a marriage The parties had undertaken, in 1998, an Islamic marriage ceremony, a Nikah. They … Continue reading Ram v Ram and others: CA 16 Nov 2004
Judges: David Cooke J Citations: [2010] EWHC 24 (Ch), [2010] BPIR 289 Links: Bailii Statutes: Insolvency Act 1986 339 Jurisdiction: England and Wales Insolvency Updated: 13 October 2022; Ref: scu.392877
The court examined the effect of section 423 on sale and leaseback transactions. Judges: Purle QC J Citations: [2010] EWHC 6 (Ch) Links: Bailii Statutes: Insolvency Act 1986 423 Jurisdiction: England and Wales Insolvency Updated: 12 October 2022; Ref: scu.392843
Preliminary issue in an application in a bankruptcy Judges: Mr Justice Nugee Citations: [2020] EWHC 98 (Ch) Links: Bailii Statutes: Insolvency Act 1986 Jurisdiction: England and Wales Insolvency Updated: 11 October 2022; Ref: scu.646335
Judges: HHJ Halliwell Citations: [2019] EWHC 3455 (Ch) Links: Bailii Statutes: Insolvency Act 1986 Jurisdiction: England and Wales Insolvency Updated: 08 October 2022; Ref: scu.646198
The Court considered a Director’s duty to act in the interests of his company’s creditors. The Directors were said to have paid out an excessive dividend to put assets beyond the reach of its creditors. Judges: Longmore, David Richards, Henderson LJJ Citations: [2019] EWCA Civ 112, [2019] 2 All ER (Comm) 13, [2019] BCC 631, … Continue reading BTI 2014 Llc v Sequana SA and Others: CA 6 Feb 2019
The court was asked to interpret the provisions as to ‘client money rules’ and ‘client money distribution rules’ in the FSA handbook, and to consider the consequences as to the applicable trusts. Substantial sums paid by clients to the bank before its insolvency were now unavailable. Held: The appeal failed. The statutory trust under the … Continue reading Lehman Brothers International (Europe), Re: SC 29 Feb 2012
Judges: Roth J Citations: [2010] EWHC 1587 (Ch), [2010] BCC 808 Links: Bailii Statutes: Insolvency Act 1986 213 Jurisdiction: England and Wales Insolvency Updated: 04 October 2022; Ref: scu.420390
Application had been made for the removal of the liquidators, who sought security for their costs of defending the application. They said that the company had made several substantial payments to reduce borrowings in the time shortly before the liquidation, increasing unsecured creditors and reducing the secured creditor liabilities. The claimants said the liquidation had … Continue reading Quicksons (South and West) Limited v Katz, Kelmanson: ChD 8 Aug 2003
A distinction has to be made in between sections 208 and 213 of the Act. Section 208 implies an element of dishonesty, rather than an intent to defraud. The difference lay in the absence of a requirement to establish that the defendant to intended to benefit himself. Though his offence was not technical, and it … Continue reading Regina v Bevis: CACD 8 Feb 2001
Citations: [2009] BPIR 626, [2008] EWHC 2946 (Ch) Links: Bailii Statutes: Insolvency Act 1986 262(1)(b) Jurisdiction: England and Wales Insolvency Updated: 04 October 2022; Ref: scu.377225
The Secretary of State sought a disqualification order. The director argued that one shoul not be made in the absence of some breach of legal duty, some dishonesty should be shown. Held: The answer was a mixture of fact and law. A breach of duty alone was neither necessary nor sufficient. Unfitness by reason of … Continue reading The Secretary of State for Trade and Industry v Goldberg, Mcavoy: ChD 26 Nov 2003
Application under the ‘fraudulent trading’ provision in section 213. Judges: Roth LJ Citations: [2010] EWHC 613 (Ch) Links: Bailii Statutes: Insolvency Act 1986 213 Jurisdiction: England and Wales Insolvency Updated: 29 September 2022; Ref: scu.406547
Application for contribution from directors after they had traded beyond the time when any prospect of avoiding insolvent liquidation was lost. Judges: The Honourable Mr Justice Peter Smith Citations: [2006] EWHC 5803 (Ch) Links: Bailii Statutes: Insolvency Act 1986 214 Jurisdiction: England and Wales Insolvency, Company Updated: 29 September 2022; Ref: scu.241457
Judges: Sir Anthony Mann Citations: [2022] EWHC 2221 (Ch) Links: Bailii Statutes: Insolvency Act 1986 423 Jurisdiction: England and Wales Insolvency Updated: 29 September 2022; Ref: scu.681002
Judges: Hodge QC J Citations: [2010] EWHC 3788 (Ch) Links: Bailii Statutes: Insolvency Act 1986 Jurisdiction: England and Wales Insolvency Updated: 27 September 2022; Ref: scu.434928
Judges: Floyd J Citations: [2010] EWHC 3071 (Ch), [2011] 1 WLR 1579, [2011] 2 Costs LO 163, [2011] 1 BCLC 368 Links: Bailii Statutes: Insolvency Act 1986 Sch B1 Jurisdiction: England and Wales Insolvency Updated: 27 September 2022; Ref: scu.426849
There was a conflict between the creditors who were party to the IVA and a subsequent trustee in bankruptcy; and the bankruptcy was petitioned by a new creditor who was unaffected by the IVA. Held: The IVA had created a trust of the bankrupt’s assets for the benefit of the IVA creditors. The bankruptcy order … Continue reading in Re Bradley-Hole (A Bankrupt): ChD 1995
Judges: Alison Foster QC Citations: [2009] EWHC 2063 (Ch), [2009] BPIR 1438 Links: Bailii Statutes: Insolvency Act 1986 303 Jurisdiction: England and Wales Insolvency, Contract Updated: 27 September 2022; Ref: scu.416200
Application under section 6 of the Insolvency Act 1986 for an order that the approval of a Company Voluntary Arrangement in respect of the second respondent given by a meeting of creditors be revoked on the grounds that there was material irregularity in relation to that meeting. Judges: Roth J Citations: [2010] EWHC 3353 (Ch), … Continue reading Macaria Investments Ltd v Sanders and Another: ChD 17 Dec 2010
Citations: [2006] EWHC 779 (Ch) Links: Bailii Statutes: Insolvency Act 1986 212 Jurisdiction: England and Wales Insolvency Updated: 25 September 2022; Ref: scu.241460
Directors’ application for an administration order under the provisions of Schedule B1 of the Insolvency Act 1986. Citations: [2007] EWHC 3534 (Ch) Links: Bailii Jurisdiction: England and Wales Company, Insolvency Updated: 22 September 2022; Ref: scu.408851
Claim for relief under s.423 of the Insolvency Act 1986 – sale of a property at an undervalue Judges: Deputy Master Linwood Citations: [2021] EWHC 526 (Ch) Links: Bailii Statutes: Insolvency Act 1986 423 Jurisdiction: England and Wales Insolvency Updated: 22 September 2022; Ref: scu.659556
‘These appeals raise important and difficult questions posed by the impact of legislation for the protection of pension funds upon companies which are undergoing an insolvency process.’ Judges: Laws, Lloyd, Rimer LJJ Citations: [2011] EWCA Civ 1124, [2012] BCC 83, [2012] 1 BCLC 248, [2012] BCLC 248, [2012] 1 All ER 1455, [2012] Bus LR … Continue reading Bloom and Others v The Pensions Regulator and Others; In re Nortel GMBH (in administration: CA 14 Oct 2011
The revenue appealed against refusal of its petition for the winding up of the company for non-payment of a VAT assessment. The company said that the assessment was disputed. The revenue said that the company had been run for the purpose of submitting false VAT Input tax claims, and suppressing Output tax invoices. Held: The … Continue reading Revenue and Customs v Rochdale Drinks Distributors Ltd: CA 13 Oct 2011
This appeal concerned two issues of principle relating to the approval of an individual voluntary arrangement. One was as to whether, where there has been an assignment of part of a debt, which can only take effect in equity, the person entitled to vote at the creditors’ meeting called to approve the IVA was the … Continue reading Kapoor v National Westminster Bank Plc and Another: CA 5 Oct 2011
The court was asked: ‘whether or not the appellants were released from their obligation under a covenant to indemnify the respondents against claims arising under a lease by reason of the terms of an individual voluntary arrangement made under part VIII of the Insolvency Act 1986 by a co-obligee who was liable, jointly with the … Continue reading Johnson and Another v Davis and Another: CA 18 Mar 1998
A bankrupt had, before his bankruptcy disposed of his share in a house at an undervalue. His wife appealed an order that the share disposed of should vest entirely in the trustee in bankruptcy. Matrimonial proceedings had also been commenced. Held: The wife was seeking effectively not re-instatement, but the creation of a position which … Continue reading Gita Ram v Baskinder Ram,Solinder Ram, Monder Ram and Maurice William Russell: CA 5 Nov 2004
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. … Continue reading Morphitis v Bernasconi and others: CA 5 Mar 2003
The petitioners sought either the purchase of their shares, or the winding up of the company alleging unfair prejudice in the management of the company. The defendants argued that what was complained of did not fall within section 459 since it was not complained of in their capacity as shareholders. Held: Though the petitioner was … Continue reading In the Matter of Pectel Limited; O’Neill; O’Neill v Phillips; Phillips and Pectel Limited: CA 1 May 1997
The court considered how to determine in the context of applications for confiscation orders, the value of the ‘benefit’ obtained by an offender who has been guilty of managing a company as a director in contravention of a director’s disqualification order or an undertaking not to act as a director. Held: The values were to … Continue reading Seager, Regina v; Regina v Blatch: CACD 26 Jun 2009
Very emphatic language was required in a statute before want of leave should, without more, result in proceedings being treated as a nullity. Leave could in appropriate circumstances be granted after the event notwithstanding the proceedings had been commenced without leave. The words used in s.130(2) of the Insolvency Act 1986 were, in their historical … Continue reading In re Saunders (A Bankrupt): ChD 1997
The court considered how the losses of the insolvent company were to be distributed as between secured creditors and preferential creditors, given the terms of the applicable trust deed. Held: The court considered the interpretations of the deed, looking at the ‘landscape of the instrument as a whole’ and interpretations given. The Court emphasised the … Continue reading Sigma Finance Corporation, Re; (in administrative receivership): SC 29 Oct 2009
Parties said that assets of the insolvent company were held by it in trust for them. Held: The court had no jurisdiction to sanction a scheme of arrangement proposed by the administrators between the company and former clients who had proprietary interests in the assets held by the company or on its behalf. Judges: Blackburne … Continue reading Lehman Brothers International (Europe) (No 2), Re: ChD 21 Aug 2009
Challenge to sale of house as at an undervalue. Citations: [2007] EWHC 405 (Ch), [2008] 2 WLR 283 Links: Bailii Statutes: Insolvency Act 1986 339 Jurisdiction: England and Wales Insolvency Updated: 11 September 2022; Ref: scu.251816
Citations: [2007] EWHC 753 (Ch) Links: Bailii Statutes: Insolvency Act 1986 303(2A) Jurisdiction: England and Wales Insolvency Updated: 11 September 2022; Ref: scu.251170
Judges: Lord Justice Auld Lord Justice Sedley Lord Justice Keene Citations: [2004] EWCA Civ 805 Links: Bailii Statutes: Foreign Judgments (Reciprocal Enforcement ) Act 1933, Insolvency Act 1986 423 Jurisdiction: England and Wales Insolvency, Banking Updated: 11 September 2022; Ref: scu.198484
The House was asked: what is meant by the word property in a floating charge and in section 53(7) of the 1986 Act which provides for the effect of the appointment of a receiver by the holder of such a charge in the following terms: ‘(7) On the appointment of a receiver under this section, … Continue reading Sharp and Others v Woolwich Building Society: HL 6 Feb 1997
Citations: ,[2004] 1 WLR 2832, [2003] EWCA Civ 1925, [2004] 2 All ER 294 Links: Bailii Statutes: Insolvency Act 1986 279 Jurisdiction: England and Wales Citing: Appeal from – Bagnall QC v the Official Receiver ChD 18-Jun-2003 The bankrupt was to receive his automatic discharge. The receiver had applied ex parte to suspend the automatic … Continue reading Bagnall QC v Official Receiver: CA 1 Dec 2003
Application for an order under paragraph 71 of Schedule B1 to the Insolvency Act 1986 (as amended) seeking the court’s permission to dispose of the freehold land known as Pier Hotel and situated at Hamilton Street, Birkenhead as if it were not subject to various security interests together with an order as to the application … Continue reading Williams and Another v Broadoak Private Finance Ltd and Others: ChD 4 Apr 2018
Citations: [2005] EWCA Civ 693, [2005] BPIR 1067, [2005] 2 BCLC 328, [2005] BCC 739 Links: Bailii Statutes: Insolvency Act 1986 213 Jurisdiction: England and Wales Cited by: Main Judgment – Bank of India v Morris and others (Costs) CA 22-Jun-2005 . . Lists of cited by and citing cases may be incomplete. Insolvency, Banking … Continue reading Bank of India v Morris and others: CA 22 Jun 2005
The department complained that the defendants had entered into a transaction with their farm at an undervalue so as to defeat its claim for recovery of sums due. The transaction used the grant of a tenancy by the first chargee. Held: The farmers’ appeal as to the farm transaction failed: ‘beyond argument that DEFRA was … Continue reading Feakins and Another v Department for Environment Food and Rural Affairs (Civ 1513): CA 9 Dec 2005
Application for winding up orders on public interest grounds. Judges: His Honour Judge Stephen Davies Citations: [2019] EWHC 2890 (Ch) Links: Bailii Statutes: Insolvency Act 1986 124A Jurisdiction: England and Wales Insolvency Updated: 07 September 2022; Ref: scu.643891
Proposed appeal from a decision dismissing the Appellant’s application, made pursuant to section 282(1)(a) of the Insolvency Act 1986, to annul a bankruptcy order made against the Appellant. Citations: [2019] EWHC 2701 (Ch) Links: Bailii Jurisdiction: England and Wales Insolvency Updated: 07 September 2022; Ref: scu.642771
Judges: Richard Seymour QC J Citations: [2003] EWHC 334 (Ch) Links: Bailii Statutes: Insolvency Act 1986 Jurisdiction: England and Wales Insolvency, Company Updated: 06 September 2022; Ref: scu.431762
Application to set aside individual voluntary arrangement. Judges: Chadwick LJ, Longmore LJ, Jacob LJ Citations: [2006] EWCA Civ 1183 Links: Bailii Statutes: Insolvency Act 1986 262(2)(a) Jurisdiction: England and Wales Insolvency Updated: 06 September 2022; Ref: scu.244475
Solicitor firms had been made bankrupt leaving a shortfall after thefts from client accounts of over 12 million pounds. The thief had diappeared, and the other partners were now discharged form bankruptcy. The Law Society accepted that it could not proceed to claim against the discharged bankrupts, but now sought recovery from their insurers. Held: … Continue reading Law Society of England and Wales and others v Shah and others: ChD 30 Nov 2007
Citations: [2003] EWCA Civ 1886 Links: Bailii Statutes: Insolvency Act 1986 268(1) Jurisdiction: England and Wales Insolvency Updated: 06 September 2022; Ref: scu.193675
The defendant was charged with acting as a company director whilst being an undischarged bankrupt, and also of being involved in the management of a company using a prohibited name. She said that she had not known that the part she took in the company amounted to acting as a director. The judge directed the … Continue reading Regina v Doring: CACD 24 Jun 2002
The claimant argued that she should not have been made bankrupt on the application of HMRC in respect of VAT sums she now disputed. Judges: Sir Andrew Morritt C, Toulson, Sullivan LJJ Citations: [2011] EWCA Civ 271, [2011] BPIR 691, [2011] STC 1237, [2011] STI 1213, [2011] BVC 162, [2011] NPC 33 Links: Bailii Statutes: … Continue reading Revenue and Customs v Chamberlin: CA 22 Mar 2011
The court was asked questions to interpret the terms of interest-bearing notes, which were issued by Eurosail-UK 2007-3BL PLC, a special purpose vehicle formed to hold income-producing assets, consisting of mortgage loans, to be used to meet the liabilities on the Notes, and in particular whether the rspondent had been insolvent when entering into them. … Continue reading BNY Corporate Trustee Services Ltd v Eurosail-UK 2007-3BL Plc and Others: CA 7 Mar 2011
