Last Thursday, in Re Scottish Environmental Protection Agency & Others [2013] CSIH 108, the Court of Session (Inner House) delivered an important decision concerning insolvency law in Scotland. Overturning the decision of the Lord Ordinary ([2013] CSOH 124), the court unanimously held that, in the absence of a specific power to do, a liquidator has no power to divest the company of a real right in land by unilateral disclaimer whereby the land would become bona vacantia.
Monday, 16 December 2013
UK: Scotland: Liquidators lack the power to disclaim land
Last Thursday, in Re Scottish Environmental Protection Agency & Others [2013] CSIH 108, the Court of Session (Inner House) delivered an important decision concerning insolvency law in Scotland. Overturning the decision of the Lord Ordinary ([2013] CSOH 124), the court unanimously held that, in the absence of a specific power to do, a liquidator has no power to divest the company of a real right in land by unilateral disclaimer whereby the land would become bona vacantia.
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