Vol 23 (2026) - Issue 4

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Aerovias del Continente Americano SA Avianca & Ors v Versilia Solutions Ltd [2026] EWHC 282 (Ch): Powers of Joint Provisional Liquidators and Retrospective Ratifications of Asset Sales

Synopsis
This case concerned the limits of the powers of provisional liquidators and, if they were exceeded, whether the Court could retrospectively ratify certain acts.
The Court (Mr Lance Ashworth KC sitting as a Deputy High Court Judge) held that the Joint Provisional Liquidators ('JPLs') did in fact have power to sell the Company's assets on a proper construction of the provisional order appointing the JPLs but held, if he was wrong about that, the Court did have jurisdiction to retrospectively ratify and would have done in this case as the sale was fairly urgent and a good deal for creditors.