Occasionally an invoice slips through the net and does not get paid, or payment is delayed due to issues with the goods or services being provided.
Where the debt is for £750 or more, an impatient creditor may serve a statutory demand or a winding up petition if it considers there to be no reason for the delay.
If this happens, deal with the situation immediately as the consequences of failing to do so can be very damaging to the company's reputation and finances; even if it is not ultimately wound up.
In a recent judgment (Durose & Ors v Tagco BV & Ors [2022] EWHC 3000 (Ch)), the Court was asked to decide whether the actions of a private equity investor demonstrated "unfair prejudice". In this insight we cover what steps companies should take in light of the Court's ruling.
Introduction
Facts Facts
Decision
Comment
Introduction
On March 1 2011 Tokyo District Court issued a decision which admitted the right of avoidance exercised by the court-appointed administrator of a corporate debtor in possession under civil rehabilitation proceedings, where the debtor company had settled a mortgage for a financing company as the real guarantor of its parent company.