The company was wound up massively insolvent. The liquidators obtained orders for the private examination of an officer of the bank, who had undertaken an investigation into the bank’s relationship with the company before it’s liquidation. The bank and liquidators agreed to terms upon which information would be provided to the liquidators, a term of which was that documents disclosed by the bank would be used only for the liquidation without the leave of the court. A member of the committee of inspection issued proceedings against the back for fraudulent trading by E in which the banker had participated. He sought permission to use the information disclosed in the liquidation in the action against the bank.
Held: The information could be used. Information obtained under a threat based upon section 268 should be used only for the purposes of the liquidation unless there were exceptional circumstances. Here the subject matter and the claim were closely associated with to the liquidation and the allegations were of a serious nature.
 BCC 125
England and Wales
See Also – Re Esal (Commodities) Ltd CA 30-May-1988
The respondents were the liquidators of a company which the appellant bank climbed old substantial monies. The insolvent company had several subsidiaries and sub-subsidiaries, holding further assets. The respondent first sought an order requiring . .
See Also – In Re Esal (Commodities) Ltd CA 1989
At ChD – Re Esal (Commodities) Ltd (No 2) CA 2-Jan-1990
the principal purpose of the powers to compel third parties to provide material to office-holders under sections 235, 236 and 366 is to assist with the beneficial winding up of the company or bankruptcy of the individual in question . .
Lists of cited by and citing cases may be incomplete.
Updated: 20 May 2022; Ref: scu.622385