Sea Voyager Maritime Inc and Others v Bielecki trading as Hughes Hooker and Co: ChD 23 Oct 1998

The creditor alleged a right to recover against the estate citing an unfair prejudice from the IVA.
Held: He had been unfairly prejudiced. The IVA precluded him, like all the other unsecured creditors, from suing the debtor for the full amount of his claim
Where a claim in a debtor’s estate was in respect of a claim which remained unliquidated, and an insolvency arrangement could very substantially prejudice that claim, the creditor was entitled to relief against the proposed arrangement; however, the prejudice to the applicant must be prejudice as a creditor of the debtor and not in some other capacity.
Richard McCombe QC
Times 23-Oct-1998, [1999] BCC 924, [1999] 1 All ER 4 628
Insolvency Act 1986 262, Third Party (Rights Against Insurers Act) 1930
England and Wales
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Updated: 08 December 2020; Ref: scu.89073