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Company – Administrator. The applicant creditors of a company in administration applied for orders that: (i) the remuneration of the respondent administrators was excessive and should be either disallowed entirely or reduced; and (ii) that the administrators should pay the costs of the application personally and not as an expense of the administration. The Companies Court rejected the contention that the administrators, appointed under Insolvency Act 1986, could not or should not have made the statement as to the statutory purpose, as required under para 29(3)(b) of Sch B1 to the Act, which had led to their appointment. Further, the argument that they should not be entitled to any remuneration at all for their services was rejected. Once the decision to appoint administrators had been made, the responsibility on the prospective administrator in considering whether the statement as to the statutory purpose could be made was to look ahead at what would or might happen during the administration if he was appointed, and not behind at the motives which might have led the directors to choose to make the appointment.
Company – Administrator. The applicant creditors of a company in administration applied for orders that: (i) the remuneration of the respondent administrators was excessive and should be either disallowed entirely or reduced; and (ii) that the administrators should pay the costs of the application personally and not as an expense of the administration. The Companies Court rejected the contention that the administrators, appointed under Insolvency Act 1986, could not or should not have made the statement as to the statutory purpose, as required under para 29(3)(b) of Sch B1 to the Act, which had led to their appointment. Further, the argument that they should not be entitled to any remuneration at all for their services was rejected. Once the decision to appoint administrators had been made, the responsibility on the prospective administrator in considering whether the statement as to the statutory purpose could be made was to look ahead at what would or might happen during the administration if he was appointed, and not behind at the motives which might have led the directors to choose to make the appointment.
Sam Townend KC explains the Bar Council’s efforts towards ensuring a bright future for the profession
Giovanni D’Avola explores the issue of over-citation of unreported cases and the ‘added value’ elements of a law report
Louise Crush explores the key points and opportunities for tax efficiency
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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If you were to host a dinner party with 10 guests, and you asked them to explain what financial planning is and how it differs to financial advice, you’d receive 10 different answers. The variety of answers highlights the ongoing need to clarify and promote the value of financial planning.
Most of us like to think we would risk our career in order to meet our ethical obligations, so why have so many lawyers failed to hold the line? asks Flora Page
If your current practice environment is bringing you down, seek a new one. However daunting the change, it will be worth it, says Anon Barrister
Creating advocacy opportunities for juniors is now the expectation but not always easy to put into effect. Tom Mitcheson KC distils developing best practice from the Patents Court initiative already bearing fruit
Sam Townend KC explains the Bar Council’s efforts towards ensuring a bright future for the profession
National courts are now running the bulk of the world’s war crimes cases and corporate prosecutions are part of this growing trend, reports Chris Stephen
