Company – Insolvency. The Court of Appeal, Civil Division, allowed the joint liquidators' appeal against a judgment that had ruled on their application under s 239 of the Insolvency Act 1986. The judge had erred in having taken into account, in assessing the solvency of the company, a dividend that had been paid to the defendant director/shareholders which had been shown during the course of the liquidation to have been an unlawful dividend.