The facts

The Applicant granted two guarantees to a bank in 2006 and 2007 in respect of two facility letters. The bank assigned the Second Facility and the benefit of the First Guarantee to the Respondent. The amounts due under the Second Facility fell due for payment on 31 March 2008 and were only demanded for payment in 2015.

The Facts

In between the presentation of a winding up petition and making of a winding up order, a company entered into a settlement agreement with the Respondent, who founded the company and was previously a shareholder and director of the company.

The Decision

The facts

A former bankrupt had purported claims against a firm of solicitors arising pre-bankruptcy, which vested in his subsequently appointed trustee in bankruptcy. The debtor wrote to both the Official Receiver (OR) and, post appointment, the trustee in bankruptcy, offering to buy the claims. The trustee subsequently disclaimed the claims. The debtor alleged that the claims had already re-vested in him following his notice to both the trustee and the OR.

Summary

Liquidators of a company pursued proceedings against the former administrators/liquidators of the company (Messrs White and Wood) alleging negligent and deliberate/dishonest overcharging of fees.

The facts

The Facts

A former director of the Torex group of companies pursued proceedings against the group’s administrators, bankers and the purchaser claiming that the sale had been at an undervalue, that the bank and purchaser conspired by unlawful means in respect of the sale and that the administrators had been negligent in distributing the prescribed part. The administrators, bank and purchaser all applied to strike out the claims by way of summary judgment.

Claims Against Administrators

Background

The bankrupt and her husband, the appellant, were joint tenants of a business premises pursuant to an underlease. The trustee in bankruptcy disclaimed ‘all my/our interest in Leasehold property under the terms of the [underlease] in respect of [the property]’.

Appellant’s Case

The appellant contended that the disclaimer operated such as to prevent the landlords from claiming for rent in the bankruptcy estate post disclaimer.

Landlords’ Case

Summary

A liquidator rejected creditors’ claims. The creditors successfully appealed that decision and sought the costs of that application from the liquidator personally under rule 4.83 of the Insolvency Rules 1986 (as it then was) on the assertion that the reason the liquidator rejected the claims was that they exceeded the value of a potential misfeasance claim against the creditors and he did not want set off to defeat the misfeasance claim.

Creditors’ Case

The Facts

A debtor entered into an IVA with his creditors. He complied with the terms of the IVA and a certificate of compliance was issued by the IVA supervisor. Subsequently, the debtor received two PPI settlement payments from banks. The supervisor applied to court for directions as to whether the payments were caught by the trust created by the IVA. The Deputy District Judge held not and the High Court agreed on appeal. The supervisor was given permission to appeal to the Court of Appeal.

The Decision

Summary

Clarification on when the court should lift the administration moratorium in respect of litigation.

The Facts

Trustees’ Application

Trustees in bankruptcy issued an application for a declaration that a property owned by a company (the Property) was in fact owned by the bankrupt. The trustees contended that the Property had been bought from the sale proceeds of a property owned by the bankrupt’s father, but expressly held on trust for the bankrupt (the Trust Property).

The Facts