Vol 18 (2021) - Issue 6

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Navigating Potential Risks for Insolvency Practitioners in Administration Sales: Uralkali v Rowley and another [2020] EWHC 3442 (Ch)

Synopsis
In Uralkali v Rowley and another, in what is a helpful judgment for insolvency officeholders, the High Court provided guidance on a number of important issues regularly faced by practitioners, including whether they owe a duty of care to participants in a sales process out of an insolvent estate. In dismissing all claims against the Administrators of FI, the High Court confirmed that it is unlikely that an officeholder would be found to owe a duty of care in the context of an ordinary course sales process.