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Insolvency – Liquidation – Summary remedy against delinquent directors. Sheriff Court: Refusing an appeal in proceedings brought by the liquidator of a company under s 212 of the Insolvency Act 1986, seeking a summary remedy against the company's sole director, in which the sheriff found that the defender had misapplied certain sums which should have been paid to the company and ordained him to contribute to its assets a sum equal to the total of those sums by way of compensation, the court, after repelling an objection to the competency of note of the appeal, held that although procedural in nature s 212 did provide a summary remedy and that there was no requirement that the court have regard only to actual loss to the company.
Insolvency – Liquidation – Summary remedy against delinquent directors. Sheriff Court: Refusing an appeal in proceedings brought by the liquidator of a company under s 212 of the Insolvency Act 1986, seeking a summary remedy against the company's sole director, in which the sheriff found that the defender had misapplied certain sums which should have been paid to the company and ordained him to contribute to its assets a sum equal to the total of those sums by way of compensation, the court, after repelling an objection to the competency of note of the appeal, held that although procedural in nature s 212 did provide a summary remedy and that there was no requirement that the court have regard only to actual loss to the company.
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Westgate Wealth Management Ltd is a Partner Practice of FTSE 100 company St. James’s Place – one of the top UK Wealth Management firms. We offer a holistic service of distinct quality, integrity, and excellence with the aim to build a professional and valuable relationship with our clients, helping to provide them with security now, prosperity in the future and the highest standard of service in all of our dealings.
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