| Source: | All England Reporter |
| Publisher Citation: | [2003] All ER (D) 512 (Jul) |
| Neutral Citation: | [2003] EWHC 1868 (Ch) |
| Court: | Chancery Division |
| Judge: | Patten J |
| Representation | Charles Purle QC and Blair Leahy (instructed by Lovells) for the claimants. |
| Charles Potts QC and Lloyd Tamlin (instructed by Royds RDW) for the defendant. | |
| Judgment Dates: | 30 July 2003 |
Catchwords
Companies - Insolvency - Fraudulent trading - Knowledge - Consideration of defence that defendant did not have knowledge alleged - s 213.
The Case
The court dismissed the BCCI liquidators' claim brought against the defendant pursuant to s213 of the that it had knowingly participated in a fraudulent scheme devised by BCCI to enable it to manipulate its balance sheet so as to present a false account of its assets and liquidity on the ground that the defendant did not have the requisite knowledge alleged by the liquidators.
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