Re MSD Cash & Carry plc (in liquidation); Ingram (liquidator of MSD Cash & Carry plc) v Singh and others

Company – Liquidation. The Companies Court ruled, on a liquidator's claim against the former directors of a company, among others, that the second respondent had been a de facto director of the company; that a certain transaction amounted to a preference, under s 239 of the Insolvency Act 1986, in favour of the first respondent former managing director and majority shareholder of the company; and that an undated credit note amounted to a void disposition of the company's property for falling post-presentation of a winding-up petition. Further rulings were made and findings were made concerning the liability, if any, of the various respondents in respect of the various transactions. The court held that, if the true amount of the company's loss could not be agreed between the parties, it would have to be determined on an inquiry. It further ordered an account to be given in the terms claimed by the liquidator.

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