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Company – Insolvency. A company had difficulty paying its debts. A petition for its winding up was presented. The sole director of the company applied, pursuant to para 12(1)(b) of Sch B1 to the Insolvency Act 1986, for an order for the appointment of two directors as joint administrators of the company. The Chancery Division held that, whilst on paper the criteria for making an administration order, as set out at para 11 of Sch B1 to the Act, had been made out, on the evidence, various matters required explanation. Where other alternatives required consideration, the court was not persuaded that it should make an administration order.
Company – Insolvency. A company had difficulty paying its debts. A petition for its winding up was presented. The sole director of the company applied, pursuant to para 12(1)(b) of Sch B1 to the Insolvency Act 1986, for an order for the appointment of two directors as joint administrators of the company. The Chancery Division held that, whilst on paper the criteria for making an administration order, as set out at para 11 of Sch B1 to the Act, had been made out, on the evidence, various matters required explanation. Where other alternatives required consideration, the court was not persuaded that it should make an administration order.
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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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Sam Townend KC explains the Bar Council’s efforts towards ensuring a bright future for the profession
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