Re Meem SL Ltd (in administration); Goel and another v Grant and another (as joint administrators of Meem SL Ltd) and another

Company – Administration. Two shareholders and creditors of a company in administration applied under para 74 of Sch B1 to the Insolvency Act 1986 to restrain the administrators of the company from selling, by auction, a proposed claim the company had against various parties. The basis of the proposed claim was an alleged conspiracy to put the company into administration and to dispose of its assets at an undervalue by way of a 'pre-pack' sale. In dismissing the application, the Companies Court held that the applicants had failed to establish that the administrators were contractually bound to sell the claim to them or that the proposed sale by auction would unfairly harm the applicants' interests.

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