Parties wishing to resist the enforcement of an adjudication decision on the grounds of insolvency usually need to show that the claiming party will not be in a position to repay the amount of the decision if required to do so in later court or arbitration proceedings. Two recent cases in the TCC have, however, shown that different considerations can apply in the less typical circumstances of a members’ voluntary liquidation and a creditors voluntary arrangement.
Maguire & Co v Mar City Developments
United Kingdom, Insolvency & Restructuring, Litigation, CMS Cameron McKenna Nabarro Olswang LLP, Liquidation