Key Issue

A former liquidator would not be entitled to relief from liability under section 212 of the Insolvency Act 1986 where her conduct had fallen well short of the standard to be expected and she had paid away substantial sums which would otherwise be available to creditors.

The Facts

Key point

Under English law it is now clear that, in order to trace monies through bank accounts, it is not necessary that payments should occur in any specific order. 

The facts