||All England Reporter
|| All ER (D) 392 (Jun)
Nicholas Strauss QC (sitting as a deputy judge of the High Court)
||Lexa Hilliard (instructed by Pinsent Masons) for the administrators.
||David Mohyuddin (instructed by Wragge & Co) for S Int.
||27 June 2008
Company - Administration order - Administrator - Company's business including selling of boats - Company's administrators applying to court for directions in respect of certain monies and pending boat sales - Court deciding that title in certain vessel had passed to relevant dealer - Manufacturer requesting that court review its decision - Whether court should change its decision - Whether title to vessel remaining with manufacturer - Whether manufacturer entilted to trace proceeds of sale into company's client account - Insolvency Rules, , r 7.47.
Company Administration order. Having accepted that it had the power pursuant to r7.47(1) of the Insolvency Rules, , to review its decision in the exercise of its insolvency jurisdiction, the court reviewed its previous decision and confirmed it, to the effect that title to the vessel in question had passed to one of the company's dealers. The court further decided that the relevant clause in the dealer agreement had created an unregistered charge, with the result that the boat manufacturer in question was a general creditor of the company and was not entitled to trace its claim into the company's client account.
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