This article was first published in the LexisNexis Corporate Rescue and Insolvency Journal (2017) 2 CRI 45.
Key Issues
United Kingdom, Arbitration & ADR, Construction, Insolvency & Restructuring, Litigation, Gatehouse Chambers, Moratorium, Cashflow, Technology and Construction Court
Facts
The company (‘Goldtrail’) was a tour operator. The director, who owned 100% of the company, had attempted to sell 50% of his shares to each of two companies without one knowing about the other. Goldtrail went into liquidation leaving passengers stranded overseas and owing £20m for repatriation.
United Kingdom, Insolvency & Restructuring, Litigation, White Collar Crime, Gatehouse Chambers, Shareholder, Insolvency Act 1986 (UK)