“Considerations that the institution of proceedings for relief under s 244 of the Insolvency Act 1986 in respect of a transaction to which the company was a party was extortionate when the issue was only triable and the consequences of thereby rescuing the company less than reasonably practicable were relevant to the existence or otherwise of good reason to remove the administrators under para 88 of Sch B1 to the Act but were not themselves sufficient to preclude good or sufficient reason.”
WLR Daily, 14th October 2010
Source: www.lawreports.co.uk
Please note once a case has been fully reported in one of the ICLR series the corresponding WLR Daily summary is removed.
