Re Business Dream Ltd  EWHC 2860 (Ch), (His Honour Judge Behrens (sitting as a High Court judge, 8 November 2011)
The directors of a Company filed a notice of intention to appoint an administrator after a winding up petition had been presented but not served. The directors subsequently passed a resolution for CVL and purported to appoint a liquidator before the expiry of the interim moratorium. The directors argued that by reason of the extant petition the filing of the notice of intention to appoint was an abuse of process and/or a nullity, such that the interim moratorium never came into effect (an argument allegedly deployed successfully on numerous unreported occasions).
To view the full text, please log in.
To receive a FREE 14 day online trial to Insolvency Law Online click here.
"This is the ultimate statement of where the law on IVAs is to be found in our great common law...