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Judgment was given today in
Financial Conduct Authority v Carillion Plc [2021] EWHC 2871 (Ch). The question before the court was whether regulatory action by the
FCA against a company in liquidation, under
section 91 and/or
section 123 of the
Financial Services and Markets Act 2000, constituted "action or proceeding" such that it required the permission of the insolvency court under
section 130(2) ("consequences of winding-up order") of the
Insolvency Act 1986. The trial judge,
Mr Justice Michael Green, held that such permission was not required.
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