Source: All England Reporter
Publisher Citation: [2003] All ER (D) 360 (May)
Court: Chancery Division
Judge:

Michel Kallipetis QC sitting as a deputy judge of the High Court
Judgment Dates: 23 May 2003

Catchwords

Companies - Winding up - Liquidator - Liquidator's application against first defendant for various declarations and orders for payment - Liability of first defendant - ss 239(3), 239(4), 241(1)(a), (b).

The Case

On the liquidator's application to the court for various declarations and orders for payment against the first defendant on the grounds that at the time certain payments were made to him the company was clearly insolvent, the court decided, inter alia, that in light of all the evidence the relevant legal charge and payments had been preferences pursuant to s239(4) of the . Accordingly, pursuant to the powers of the court in ss239(3) and 241(1)(a) and (b) of the Act, the position would be restored to what it would have bee save for the preference, and the first defendant would be ordered to pay the company his share of the sums payable under the sale agreement.

Practice Areas

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