The Secretary challenged the refusal to order the winding up of the company after the court accepted undertakings as to the future business model and conduct of the company.
Held: Where the insolvency proceedings were on the basis that the trading methods of a company were ‘inherently objectionable’ unders section 124A, the court had power to accept appropriate undertakings from the company as to its future business models and practices and to reject the Secretary of State’s petition.
Lord Justice Rix, Lord Justice Toulson and Lord Justice Rimer
[2009] EWCA Civ 32, Times 18-Mar-2009, [2009] Bus LR D121
Bailii
Insolvency Acy 1986 124A
England and Wales
Company, Insolvency
Updated: 10 November 2021; Ref: scu.280242
