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Insolvency Law

Expert guidance on all aspects of corporate and personal insolvency

19 DEC 2013

Re Sheridan Millennium Ltd; Curistan v Keenan [2013] NICh 13

(Chancery Division, McCloskey J, 16 September 2013)

The ‘harm' contemplated in paragraph 75 of Schedule B1 to the Insolvency (Northern Ireland) Order 1989 is something of tangible detriment to an individual creditor vis-à-vis another creditor, or other creditors.

A creditor applied to challenge the decision of the administrator not to assign the benefit of legal proceedings issued by the company before it went into administration. Although there was a possibility that the non-pursuit of the proceedings could inflict some detriment on the creditor, that possible detriment did not constitute ‘unfair harm' because she would be no worse off than any other creditor or member of the company.

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