Secretary of State for Business Innovation and Skills v PAG Management Services Ltd

Company – Compulsory winding up. The Secretary of State presented a petition, under s 124A of the Insolvency Act 1986, seeking an order that the respondent company be wound up on the basis that it would be expedient in the public interest. The Chancery Division, in allowing the application, held that misuse of insolvency legislation by the respondent's scheme demonstrated a lack of commercial probity, such that it was just and equitable to wind up the company.

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