Re Mason & Sons Ltd (in creditors' voluntary liquidation); Richardson and another v White and another

Practice – Trial. The Companies Court considered whether a trial should go ahead in respect of a claim brought by the joint liquidators of a company in creditors' voluntary liquidation against the respondent former administrators, and subsequently, former liquidators, of the company. By their claim, the current liquidators of the company sought a declaration that the respondents had misapplied, retained, or become accountable for, money or other property of the company, and/or were guilty of misfeasance, breach of fiduciary or other duty in relation to the company, under para 75 of Sch B1 to the Insolvency Act 1986 and/or s 212 of the Insolvency Act 1986. The respondents denied that there had been dishonesty on their part and the first respondent sought to settle the claim. The court ruled, among other things, that, in respect of the first respondent, an order would be made that reflected the offers he had made, which gave to the applicants everything they claimed in the proceedings. However, on the terms of those offers, there would be no specific finding of dishonesty against him. Accordingly, the trial would not proceed in respect of the first respondent.

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