*Re One Blackfriars Ltd; Hyde and another (as joint liquidators of One Blackfriars Ltd) v Bannon and another (as former administrators of One Blackfriars Ltd)

Insolvency – Liquidator. In applying for permission to commence a claim under para 75 of Sch B1 to the Insolvency Act 1986, it was incumbent on liquidators to show a reasonably meritorious cause of action which was reasonably likely to result in a benefit to the estate. Further, there was no absolute obligation on the liquidators to obtain expert valuation evidence before commencing such proceedings. The Chancery Division so ruled in allowing an application by the joint liquidators of a company for the court's permission to examine the conduct of the former administrators of the company (who had been appointed by the Royal Bank of Scotland plc, but had subsequently been discharged from liability), in circumstances where the joint liquidators alleged that there had been various breaches of duty by the administrators concerning of the sale of a property.

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