Liquidation in UK Law
Re Toshoku Finance UK Plc
Expenses incurred after the liquidation date need no further equitable reason why they should be paid. It is not the business of the liquidator to incur expenses for any other purpose. There would be little point in a statute which specifically imposed liabilities upon a company in liquidation if they were payable only in the rare case in which it emerged with all other creditors having been paid.
In the first place, the question of whether the community charge should count as an expense of the liquidation was not a matter for the judge's discretion. In depended upon whether it came within one of the paragraphs of rule 4.218. The liability did not arise out of a pre-liquidation obligation. If it came within the language of paragraph (m), it was a liquidation expense.
Re Lines Brothers. Ltd
If the creditor petitions to wind up a company, or claims in a liquidation initiated by others, he is not engaged in proceedings to establish the company's liability or the quantum of the liability (although liability and quantum may be put in issue) but to enforce the liability. The liquidation of an insolvent company is a process of collective enforcement of debts for the benefit of the general body of creditors.
HIH Casualty and General Insurance Ltd v JLT Risk Solutions Ltd
That principle requires that English courts should, so far as is consistent with justice and UK public policy, co-operate with the courts in the country of the principal liquidation to ensure that all the company's assets are distributed to its creditors under a single system of distribution.
Re Lehman Brothers International (Europe) ((in Administration))
There are, as I see it, a number of serious difficulties with this submission. First, on a natural reading of 2.88(7) it applies to a surplus in the hands of the administrator rather than in the hands of a subsequent liquidator. Read in its context, it seems to direct the administrator as to the application of the surplus which he holds.
Re Gray's Inn Construction Company Ltd
Since the policy of the law is to procure so far as practicable rateable payments of the unsecured creditors' claims, it is, in my opinion, clear that the court should not validate any transaction or series of transactions which might result in one or more pre-liquidation creditors being paid in full at the expense of other creditors, who will only receive a dividend, in the absence of special circumstances making such a course desirable in the interests of the unsecured creditors as a body.
A disposition carried out in good faith in the ordinary course of business at a time when the parties are unaware that a petition has been presented may, it seems, normally be validated by the court (see re Wiltshire Iron Co.
The Insolvency (England and Wales) Rules 2016
... ... fee) —(i) by the liquidator in company insolvency to creditors and members of the company, contributories in its winding up and the liquidation committee; and(ii) by the trustee in bankruptcy to creditors and the creditors' committee;(e) the manner in which insolvent estates are to be ... ...
- Liquidation Act 1868
Small Business, Enterprise and Employment Act 2015
... ... foreign offence” is an offence committed outside Great Britain—(a) in connection with—(i) the promotion, formation, management, liquidation or striking off of a company (or any similar procedure) ,(ii) the receivership of a company's property (or any similar procedure) , or(iii) a person ... ...
- Godstone and Highgate (Sussex) Turnpike Trust Liquidation of Debt Act 1849
- Liquidation: LLPs
- Liquidation: Partnerships
What Liquidation Does For Secured Creditors, And What It Does For You
This article analyses the liquidation process, challenging the much repeated proposition that secured claimants ‘stand outside’ liquidation. It is argued that this proposition (i) is a product of a...
- Book Review: The Liquidation of the British Empire
- Understanding Compulsory Liquidation
Update On Liquidation Of The Home Insurance Company
The New Hampshire liquidation court approved the commutation, settlement, and release agreement between The Home Insurance Company (liquidating) and OIC Run-Off Limited (formerly known as The Orion...
- Administration To Compulsory Liquidation
The liquidation of Bradford Bulls: a red rag to financial mismanagement?
Last week, the world of Rugby League was rocked by the news that Bradford Bulls, one of the giants of the game in the UK, had been placed into liquidation with reported debts of £1m and funding sho...
I have an Advisory, Conciliation and Arbitration Service (ACAS) settlement (Form COT3) but the respondent has not paid. How do I enforce it?
County Court forms including the N1 money claim form.... ... If your HCEO recovers nothing ... (because, for example, the respondent ... company has gone into liquidation), you ... will not be charged — you will simply ... have lost your court fee ... If your HCEO recovers part only of the ... judgment you will have ... ...
I have an Employment or an Employment Appeal Tribunal award but the respondent has not paid. How do I enforce it?
Enforcement forms including forms used by judges.... ... If your HCEO recovers nothing (because, ... for example, the respondent company ... has gone into liquidation), you will not be ... A: Yes, if the HCEO recovers nothing — ... that is what the HCEOs agreed with the ... Ministry of Justice, when the Scheme ... ...