Friday, 11 November 2016
Judgment was given yesterday in Re Caledonian Ltd  EWHC 2854 (Ch). The case concerned an application by the Secretary of State for Business, Innovation and Skills (now Business, Energy and Industrial Strategy) for the winding-up of two companies under section 124A ("Petition for winding up on grounds of public interest") of the Insolvency Act 1986. The trial judge, Mr Robin Dicker QC sitting as a Deputy Judge of the High Court, granted the Secretary of State's application, holding that the business of the companies had been conducted in a way that did not meet accepted minimum standards of commercial behaviour. Winding-up would, the Deputy Judge held, protect the public and also act as a punishment for past behaviour and mark the court's disapproval of that behaviour.