BHS Ltd, Re

BHS Ltd, Re

The court has jurisdiction to appoint concurrent administrators under Schedule B1 of the Insolvency Act 1986; the application is in accordance with the administrators’ proposals as approved and modified by the creditors; the protocol clearly delineates the functions of the original and concurrent administrators and is appropriate; the appointment is in the best interests of the creditors and will not materially increase costs.

Parties
Company: BHS Limited (In Administration); Original Administrators / Applicants: Philip Duffy and Benjamin Wiles (Duff & Phelps Ltd); Proposed Concurrent Administrators: Geoffrey Rowley and Anthony Wright (FRP Advisory LLP); Creditor: Pension Protection Fund (PPF); Secured Creditor: Arcadia Group Limited
Jurisdiction
England and Wales
Judgment Date
29 July 2016
Procedural Posture
Insolvency / Administration Application / Application for Appointment of Concurrent Administrators
Outcome
Application granted
Legal Topics
Appointment of Administrators, Concurrent Administration, Creditors' Interests, Conflict of Interest in Administration
Insolvency Law Company Law Appointment of Administrators Concurrent Administration Creditors' Interests Conflict of Interest in Administration

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Parties

BHS Limited (In Administration)

Company

Philip Duffy and Benjamin Wiles (Duff & Phelps Ltd)

Original Administrators / Applicants

Geoffrey Rowley and Anthony Wright (FRP Advisory LLP)

Proposed Concurrent Administrators

Pension Protection Fund (PPF)

Creditor

Arcadia Group Limited

Secured Creditor

Procedural Posture

Insolvency / Administration Application / Application for Appointment of Concurrent Administrators

Legal Issues

  1. 1 Whether the court has jurisdiction to appoint concurrent administrators under Schedule B1 of the Insolvency Act 1986
  2. 2 Whether the appointment is in the best interests of the creditors
  3. 3 Whether the protocol delineating functions between original and concurrent administrators is appropriate

Ratio Decidendi

The court has jurisdiction to appoint concurrent administrators under Schedule B1 of the Insolvency Act 1986; the application is in accordance with the administrators’ proposals as approved and modified by the creditors; the protocol clearly delineates the functions of the original and concurrent administrators and is appropriate; the appointment is in the best interests of the creditors and will not materially increase costs.

Court Disposition

Application granted

Orders

  • Appointment of Geoffrey Rowley and Anthony Wright as concurrent administrators of BHS Limited (In Administration)
  • Functions of concurrent administrators limited as set out in the protocol appended to the order