Court does not clear up confusion over ‘deficient’ legislation, says expert – OUT-LAW.com

“A recent High Court decision which appears to confirm that the failure to serve notice of intention to appoint an administrator on the relevant company does not invalidate the appointment leaves unanswered questions, a restructuring law expert has said.”

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OUT-LAW.com, 6th August 2012

Source: www.out-law.com

In re Airbase (UK) Ltd; In re Airbase International Services Ltd – WLR Daily

Posted February 7th, 2008 in floating charges, insolvency, law reports by sally

In re Airbase (UK) Ltd; In re Airbase International Services Ltd [2008] EWHC 124 (Ch); [2008] WLR (D) 30

“The provisions of s 176A of the Insolvency Act 1986, which dealt with floating charges relating to property of a company that was, inter alia, in administration, excluded from participation in any distribution from the ‘prescribed part’ of a company’s net property, as defined in s 176A(6) of the Act, secured creditors who had unsecured debts due to a shortfall in the value of their security.”

WLR Daily, 6th February 2008

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.