*/
Insolvency – Administration order. The applicant, in his capacity as a creditor of the company for the purposes of para 12(1)(c) of Sch B1 to the Insolvency Act 1986, sought an administration order to take effect retrospectively from November 2010. The court was being asked to make a retrospective order which would cure the fact of the void appointments of the purported present liquidators, by casting back over four years and validating the actions of those individuals, not as liquidators, but as administrators, in the intervening period, with a view to the company being moved by those freshly appointed administrators into creditors' voluntary liquidation. The Chancery Division held that, in the circumstances, the only appropriate outcome for the present administration application was to make an order for the compulsory winding-up of the company.
Insolvency – Administration order. The applicant, in his capacity as a creditor of the company for the purposes of para 12(1)(c) of Sch B1 to the Insolvency Act 1986, sought an administration order to take effect retrospectively from November 2010. The court was being asked to make a retrospective order which would cure the fact of the void appointments of the purported present liquidators, by casting back over four years and validating the actions of those individuals, not as liquidators, but as administrators, in the intervening period, with a view to the company being moved by those freshly appointed administrators into creditors' voluntary liquidation. The Chancery Division held that, in the circumstances, the only appropriate outcome for the present administration application was to make an order for the compulsory winding-up of 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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