Possible claims against a foreign company for misfeasance, or wrongful or fraudulent trading might be sufficient to justify proceedings here to wind up a foreign registered company. A second requirement is that some person within this jurisdiction would be likely to achieve a substantial benefit from such an action, and third was that some person … Continue reading Stocznia Gdanska SA v Latreefers Inc; In re Latrefeers Inc; Stocznia Gdanska SA v Latvian Shipping Co and others (No 2): CA 15 Mar 2000
The airline was incorporated in Greece but with an office in the UK. It became insolvent leaving a deficit in the UK employee pension scheme. The trustees of the fund sought a secondary insolvency within the UK, and now a reference to the European Court. Held: The Court was now asked what connection must a … Continue reading Olympic Airlines Sa Pension and Life Assurance Scheme, The Trustees of The v Olympic Airlines Sa: SC 29 Apr 2015
The insolvency practitioner held many appointments. His partnership in a large firm of accountants ended suddenly. He did not have the resources to handle the cases, and nor could acceptable arrangements be made for him to have access to the related files within the firm. An application was made by another partner in the firm … Continue reading In Re Sutton (Removal of Liquidator): ChD 17 Oct 1997
The court considered an application by the wife when, anticipating ancillary relief claims, the husband sought to have himself declared bankrupt, and she intervened to have the bankruptcy set aside. The husband now appealed. Held: Wilson LJ set out examples of the application to particular facts of the jurisdiction to reverse an error prior to … Continue reading Paulin v Paulin: CA 17 Mar 2009
Samba sought a stay of insolvency proceedings. Shares in a Saudi company were held in trust by a company registered in Cayman. Upon that company going into liquidation, the shares were transferred to the defendant, who now argued that since Saudi law would not recognise such a trust, and the trust being invalid, the action … Continue reading Akers and Others v Samba Financial Group: ChD 28 Feb 2014
Separate applications were made by liquidators of companies in variously voluntary or compulsory liquidation and otherwise. Judges: Chadwick J Citations:  2 BCLC 594 Statutes: Insolvency Rules 4.108 6.126 Jurisdiction: England and Wales Citing: Followed – Re Bridgend Goldsmiths Limited and Others ChD 1995 The High court may not exercise its jurisdiction under section 263 … Continue reading In re Sankey Furniture Ltd, ex parte Harding; Re Calorifique Limited, ex parte Betts: ChD 1995
Shareholders with over 90% of the issued shares sought to acquire the remaining shares, and create another company to do so. That company offered to purchase the shares at a valuation. The majority shareholders accepted but the minority shareholder refused. The new company gave notice to exercise the statutory power of compulsory acquisition under the … Continue reading Re Bugle Press Ltd: CA 2 Jan 1961
The section provided sufficient power to allow a court to appoint a new liquidator in the case of a company’s liquidation. Though there is no express power, one is assumed within the insolvency rules. Judges: Harman J Citations: Unreported, 1993 Statutes: Incolvency Act 1986 393, Insolvency Rules 4.116(6) Jurisdiction: England and Wales Cited by: Cited … Continue reading In re Parkdawn Ltd: ChD 1993
The High court may not exercise its jurisdiction under section 263 of the 1986 Act within a voluntary arrangement within the county court. Judges: Blackurne J Citations:  BCC 226,  2 BCLD 208 Statutes: Insolvency Act 1986 263(5) Cited by: Followed – In re Sankey Furniture Ltd, ex parte Harding; Re Calorifique Limited, ex … Continue reading Re Bridgend Goldsmiths Limited and Others: ChD 1995
The court was presented with a petition of a creditor to wind up a company. The company had leasehold premises which contained a provision for forfeiture of the lease in the event of such a petition. The petitioner had agreed with the company’s landlord that if a petition to wind up the company was presented … Continue reading Re a Company No 001573 of 1983: ChD 1983
An administrator appointed under the Act was free to dispose of a company’s assets without first making an application to court for permission, and without first obtaining approval of his proposal from the creditors. The administrator’s role would require difficult and sometimes urgent decisions. Judges: Neuberger J Citations: Times 23-Nov-1999, Gazette 01-Dec-1999 Statutes: Insolvency Act … Continue reading In Re T and D Industries Plc and Another: ChD 23 Nov 1999
Presumption of Damage in Defamation is rebuttable The defendant complained that the presumption in English law that the victim of a libel had suffered damage was incompatible with his right to a fair trial. They said the statements complained of were repetitions of statements made by US authorities. The claimant had asserted that no more … Continue reading Dow Jones and Co Inc v Jameel: CA 3 Feb 2005
Mens Rea essential element of statutory Offence The appellant had been convicted under the Act 1965 of having been concerned in the management of premises used for smoking cannabis. This was a farmhouse which she visited infrequently. The prosecutor had conceded that she was unaware that the premises were used for that purpose. Held: The … Continue reading Sweet v Parsley: HL 23 Jan 1969
The commonwealth Institute, a registered charity, had gone into solvent members’ voluntary winding up, and the court now considered the propriety of passing the funds to a successor charity. David Richards  EWHC 2218 (Ch) Bailii Insolvency Act 1986 112 England and Wales Company, Charity Updated: 09 January 2022; Ref: scu.533808
The court was asked whether or not the applicant trustees in bankruptcy of Mr. Tarlochan Singh (‘the bankrupt’) have lost all their rights under the provisions of s. 283A of the Insolvency Act 1986 (‘the Act’) to a particular property. The property was at the date of the bankruptcy registered in the bankrupt’s name. It … Continue reading Sands and Another v Singh and Others: ChD 1 Jun 2015
The Secretary sought disqualification of the defendants. The second defendant had not been a director of the company, but director of another company which in turn held a directorship in the defaulting company. Held: The claim failed: ‘i) As I have already pointed out the purposes of section 6 of the CDDA and section 214 … Continue reading Secretary of State for Trade and Industry v Hall and Nuttall: ChD 28 Jul 2006
Two shareholders held more than 90% of the issued shares of the company. To get rid of the holder of the remaining shares, they incorporated another company for the purpose of acquiring all the shares of the company. The acquiring company offered to . .
The claimant sued for breach of trust. The action was re-instated after being struck out for want of prosecution, but in the meantime the defendant had been made bankrupt and then discharged from bankruptcy. An order for costs was then made which . .
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 . .
The length of a director’s disqualification is not to be discounted for the time elapsed up to the hearing of the case. As to section 221 of the Companies Act, it : ‘has, at the least, two purposes. First, to ensure that those who are concerned in . .