Polly Peck International Plc v The Marangos Hotel Company Ltd and Others: CA 7 May 1998

Leave had been given for the insolvent plaintiff company to bring proceedings. The defendant now challenged that leave.
Held: A claim that a massively insolvent company had wrongfully occupied Turkish Cypriot property would not allow a claim of remedial constructive trust against assets held by liquidator here. A so-called ‘remedial constructive trust’ is not known in English law. Mummery LJ pointed to the lack of any material distinction between compulsory winding up and administration.
Nourse LJ, Potter LJ, Mummery LJ
Times 18-May-1998, [1998] EWCA Civ 789, [1998] 3 All ER 812, [1998] 2 BCLC 185
Bailii
Insolvency Act 1986 11(3)
England and Wales
Cited by:
CitedUltraframe (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 . .
CitedHarms Offshore AHT Taurus Gmbh and Co KG v Bloom and Others CA 26-Jun-2009
The court had granted to the liquidators of a company a mandatory injunction requiring the appellant German companies to attempt to obtain the release of assets from attachment by the court in new York.
Held: The appeal was dismissed. The . .

These lists may be incomplete.
Updated: 31 December 2020; Ref: scu.144267