Search Results for: Insolvency Act 1986 421

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Official Receiver v Wadge Rapps and Hunt (a firm) and another and two other actions: HL 31 Jul 2003

(Orse In re Pantmaenog Timber Co Ltd)The Receiver sought to use information obtained under section 236 (documents recovered from the directors’ solicitors) in disqualification proceedings. Held: The appeal succeeded. The Act had explicitly given the requisite powers to the receiver whether or not he was the liquidator. Nor was the purpose of the use restricted. … Continue reading Official Receiver v Wadge Rapps and Hunt (a firm) and another and two other actions: HL 31 Jul 2003

Re Palmer (A Deceased Debtor), Palmer v Palmer: CA 6 Apr 1994

Property had been conveyed to the deceased and the appellant, his widow, to be held as joint tenants. The deceased dies whilst under investigation for defalcations as a solicitor, and an insolvency administration order was obtained in the estate. The wife argued that by the doctrine of survivorship the house was already hers. The administrator … Continue reading Re Palmer (A Deceased Debtor), Palmer v Palmer: CA 6 Apr 1994

HMRC v Portsmouth City Football Club Ltd and Others: ChD 5 Aug 2010

The Revenue sought the defendant’s liquidation, challenging the sum fixed to be due by the chairman of the meeting and the football rules which gave preference to football debts over those of others. The dispute was as to treament of receipts for players’ image and associated rights. They were paid into discretionary trust funds, and … Continue reading HMRC v Portsmouth City Football Club Ltd and Others: ChD 5 Aug 2010

BNY Corporate Trustee Services Ltd v Eurosail-UK 2007-3BL Plc and Others: ChD 30 Jul 2010

The parties disputed whether the respondent was in law insolvent at the time it entered into financial transactions with it. Held: The Court rejected the Noteholders’ submission that Eurosail was plainly insolvent for the purposes of section 123(2) as applied, relying on four points. First, Eurosail’s claims in the insolvencies of other companies, though not … Continue reading BNY Corporate Trustee Services Ltd v Eurosail-UK 2007-3BL Plc and Others: ChD 30 Jul 2010

Hill (As Trustee In Bankruptcy of Nurkowski) v Spread Trustee Company Ltd and Another: ChD 2005

Citations: [2005] BPIR 842 Statutes: Insolvency Act 1986 423 Jurisdiction: England and Wales Cited by: Appeal from – Hill (As Trustee In Bankruptcy of Nurkowski) v Spread Trustee Company Ltd and Another CA 12-May-2006 The defendants sought relief for transactions entered into at an undervalue. The bankrupt had entered into charges and an assignment of … Continue reading Hill (As Trustee In Bankruptcy of Nurkowski) v Spread Trustee Company Ltd and Another: ChD 2005

National Westminster Bank Plc v Jones and Others: ChD 7 Jul 2000

A transaction could be deemed to be at an undervalue and caught by the section even though it made no difference to the overall assets and even though only one rather than the generality of creditors was prejudiced by the transaction. Here, by creating a tenancy in favour of a limited company whose shares they … Continue reading National Westminster Bank Plc v Jones and Others: ChD 7 Jul 2000

Heath v Tang, Stevens v Peacock: CA 11 Aug 1993

The bankrupt applicants each applied to the Court of Appeal for leave to appeal against the judgment for a liquidated sum on which the bankruptcy petition had been based. In the first case, the trustee in bankruptcy indicated his unwillingness to pursue an appeal; in the second, no trustee had been appointed. Held: A bankrupt … Continue reading Heath v Tang, Stevens v Peacock: CA 11 Aug 1993