LexisLibrary and LexisPSL
Sign up for a free trial today and get full access for a weekTrial
Administrators of a company obtained judgment against F, albeit for a far smaller sum than originally claimed. F, and a number of linked companies, brought proceedings against them based upon allegations of negligence, misfeasance by the administrators and effectively malicious prosecution of the claims. His Honour Judge Purle QC (sitting as a judge of the High Court) struck out the proceedings. An adverse claimant neither came under nor assumed a duty of care to the other side. Proceedings under para 75 of Sch B1 to the Insolvency Act 1986 could only be brought by a shareholder or creditor and F was neither, and, in any event, had not obtained an assignment of the claims from his trustee in bankruptcy. It was difficult to see how the proceedings could be characterised as malicious or an abuse where they had been successful albeit in a much smaller sum.
To view the full text, please log in.
To receive a FREE 14 day online trial to Insolvency Law Online click here.
"BPIR is an excellent series, of interest to both corporate and personal insolvency lawyers,...