Re MC Bacon Ltd
| Jurisdiction | England & Wales |
| Date | 1990 |
| Year | 1990 |
| Court | Chancery Division |
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100 cases
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Darty Holdings SAS v Geoffrey Carton-Kelly (as additional liquidator of CGL Realisations Ltd)
... ... 40 The statutory question is whether the impugned decision is influenced by the desire to prefer. That decision may have been made earlier than the actual giving of the preference: Re MC Bacon Ltd [1990] BCC 78, 88 ... As mentioned, the repayment of the KIL RCF took place on 3 February 2012 following a meeting of the Comet board. It is now accepted that none of those who participated in the approval of the transaction on that day were influenced by that desire. If that was the date of ... ...
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Buildspeed Construction Pte Ltd ((in Liquidation)) v Theme Corporation Pte Ltd and Another
...Act because it would have been voidable under the Bankruptcy Act had it been entered into by an individual. Re MC Bacon Ltd [1991] Ch 127[1990] BCLC 324 was referred to. Re MC Bacon Ltd was decided under s 238 (transaction at an undervalue) and s 239 (preference) of the English Insolvency A......
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Re Oxford Pharmaceuticals Ltd sub nom Wilson and another v Masters International Ltd and another
... ... 74 Consequently I find that there was no preference in fact of Dr Masters. (ii) Desire to Prefer ... 75 The meaning of “desire” was explained by Millet J in Re MC Bacon [1990] BCC 78 at 87 as follows: “It is no longer necessary to establish a dominant intention to prefer. It is sufficient that the decision was influenced by the requisite desire. That is the first change. The second is that it is no longer sufficient to establish an intention to ... ...
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Carton-Kelly v Darty
... ... Desire to prefer ... 100 The key authority on the concept of desire to prefer remains Millett J's seminal judgment in Re MC Bacon Ltd (No. 1) [1990] BCC 78 (“ Re MC Bacon ”), the first reported case on s.239 after the reforms resulting from the Cork Review Committee Report on Insolvency Law and Practice 1982 (Cmnd 8558) (the “Cork Report”), of which Millett J was a member. The case concerned an application to set ... ...
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2 firm's commentaries
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Harneys Corporate Recovery Services Guides to The Insolvency Act 2003 - Part 3
...see also Rowland†v Gulfpac (unreported) 24 July 1995, Commercial Court, Rix J 307 Section 245(1) 308 Section 245(2) 309 Re M C Bacon Ltd [1990] BCLC 324 310 Section 246(1) 311 Re M C Bacon Ltd [1990] BCLC 324 312 Phillips v Berwin Dolphin Bell Lawrie Ltd [2001] 1 WLR 143 at 150 313 Section ......
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Grant Of Security Not So Secure Anymore?
...The court nevertheless discussed the status of securities in Singapore's insolvency regime. The traditional position in Re MC Bacon Ltd [1990] BCC 78 (MC Bacon) is that "[t]he mere creation of a security over a company's assets does not deplete them ... or diminish their value" and thus "se......
12 books & journal articles
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AT THE INTERSECTION OF PROPERTY AND INSOLVENCY: THE INSOLVENT COMPANY’S ENCUMBERED ASSETS
...at 117. 147 AW, supra n 9, at 304, text to footnotes 45—48. 148 This comes across most clearly in their discussion of Re MC Bacon (No 1)[1990] BCC 78 at 92, at AW, supra n 9, at 310, and particularly the text to footnotes 89—92. 149 Honoré, “Ownership” in Oxford Essays in Jurisprudence (Gue......
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The Regulation of Shadow Directors
...mentioned proviso in s 251(3) of the Companies Act 2006.29See, eg, Re Hydrodan (Corby) Ltd supra note 11; Re MC Bacon Ltd (No 1) [1990] BCLC 324 at325.30Re PTZFM Ltd supra note 11; Ex parte Copp [1989] BCLC 13 (ChD) at 21A-C.31The provisions in the Companies Act 2006 that refer to shadow di......
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Directors' Duties to Creditors: Contractarian Concerns Relating to Efficiency and Over‐Protection of Creditors
...in D. Feldman and F. Meisel (eds), Corporate and Commercial Law: ModernDevelopments (London: LLP, 1996) 125.229 See Re M C Bacon Ltd [1990] BCLC 324; A. Keay, ‘Preferences in Liquidation Law: A Time fora Change’ (1998) 2 CfiLR 198.230 F. Easterbrook, ‘Two Agency-Cost Explanation of Dividends......
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Challenging pre-bankruptcy dispositions: An Australian-South African comparison
...Corporate Rescues and Insolvencies 2 ed (1989) 23. This may be regarded as implicit in the judgment of Millen J in Re MC Bacon Ltd [1990] BCLC 324 at 336. 122 From a perusal of Australian preference cases it appears that in many of them where a court found a voidable preference to have been......
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