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International Corporate Rescue

Journal Issues

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  • Vol 19 (2022)
  •         Issue 1
  •         Issue 2
  •         Issue 3
  •         Issue 4
  •         Issue 5
  •         Issue 6
  • Vol 20 (2023)

Vol 19 (2022) - Issue 4

Article preview

Re Edengate Homes (Butley Hall) Limited (In Liquidation) [2022] EWCA Civ 626

Nick Cooper, Associate, Freshfields Bruckhaus Deringer LLP, London, UK

Synopsis
A former director who was also a creditor of a property development company sought to challenge the liquidator's assignment of a claim against her and parties connected to her to a litigation funder under section 168(5) of the Insolvency Act 1986. The Court of Appeal dismissed her appeal, agreeing with the first instance decision that she lacked standing under section 168(5) as, despite being a creditor, her application was not brought in her capacity as a creditor and was adverse to the creditors' interests as a whole. The Court also found that even if she had standing, the liquidator's decision to assign the claim did not cross the high threshold required to set it aside, which required the liquidator's actions to be 'perverse'.

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International Corporate Rescue

"I see a lot of corporate restructuring publications but International Corporate Rescue has struck the right balance of case studies and new technical issues, all wrapped up in a very reader-friendly style."

Alan Bloom, Head of Restructuring, EY, London

 

 

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