The ICLR has provided a summary for the recent decision Closegate Hotel Development (Durham) Ltd. and another v McLean [2013] EWHC 3237 (Ch): see here. The headnote reads: "The prohibition on an officer of a company in administration exercising a management power absent the consent of the administrators contained in paragraph 64 of Schedule B1 to the Insolvency Act 1986, as inserted, did not deprive the directors of a company of the authority to cause the company to challenge the validity of the appointment of the administrators, nor was the exercise of such authority dependent upon the provision by the directors of an indemnity for costs."
Wednesday, 30 October 2013
UK: England and Wales: challenging the validity of an administrator's appointment
The ICLR has provided a summary for the recent decision Closegate Hotel Development (Durham) Ltd. and another v McLean [2013] EWHC 3237 (Ch): see here. The headnote reads: "The prohibition on an officer of a company in administration exercising a management power absent the consent of the administrators contained in paragraph 64 of Schedule B1 to the Insolvency Act 1986, as inserted, did not deprive the directors of a company of the authority to cause the company to challenge the validity of the appointment of the administrators, nor was the exercise of such authority dependent upon the provision by the directors of an indemnity for costs."
No comments:
Post a Comment