On 21 May 2010, Justice Floyd handed down his judgment in Bloomsbury International Ltd (in administration) v Mark Alan Holyoake.1 The case sheds light on the circumstances in which it is appropriate for a cross-undertaking provided by administrators on behalf of an insolvent company to be fortifi ed by a bank guarantee.
Facts
United Kingdom, Banking, Company & Commercial, Insolvency & Restructuring, Litigation, White Collar Crime, RPC, Surety, Injunction, Fraud, Liability (financial accounting)