The powers of investigation afforded to office-holders under s. 236 of the Insolvency Act 1986 are there to enable the court to help an office-holder discover the true facts concerning the affairs of a company, its trading and dealings, to allow the office-holder to complete their function. These powers are wide reaching and include compelling … Continue Reading
One of the changes introduced by the Small Business Enterprise and Employment Act 2015 (“SBEE”) which came into force on 1 October 2015 was to allow administrators and liquidators the right to assign their rights of action in respect of fraudulent trading claims, wrongful trading claims, transactions at an undervalue, preferences and extortionate credit transactions. A summary of the … Continue Reading
A recent English High Court decision has held that prospective Administrators do not need to look behind the directors’ motives in appointing them; they need to look ahead as to what might happen in the administration and consider whether the statutory purpose of the administration can be achieved. The Administrators in this case got caught … Continue Reading