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Insolvency Law

Expert guidance on all aspects of corporate and personal insolvency

01 NOV 2011

Re Stealth Construction Ltd; Green (Liquidator of Stealth Construction Ltd) v Ireland [2011] EWHC 305 (Ch), [2011] BPIR 1173, (David Richards J, 20 May 2011)

A company granted a second charge over a property to I, the sister of one of its director/shareholders, to secure the repayment of a loan that she had already made to the company. Upon a sale of the property, the liquidator of the company asserted that the charge to I was a preference, such that she was not entitled to the net proceeds of sale after discharge of the first charge. David Richards J granted the liquidator’s application.


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