Re Gatnom Capital & Finance Ltd; Macaria Investments Ltd v (1) Sanders (2) Gatnom Capital & Finance Ltd (3) Omatov, (Chancery Division, Newey J, 29 November 2011)
On an application by a creditor who had presented a winding-up petition, Roth J had revoked a CVA on the basis of material irregularity, as two creditors, amounting to 80% of the debts of the company, were based on sham contracts (see  EWHC 3353 (Ch),  BPIR 1013).
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...