Fliptex Ltd v Hogg & Ors [2004] EWHC 1280 (Ch) (28 May 2004)

Fliptex Ltd v Hogg & Ors [2004] EWHC 1280 (Ch) (28 May 2004)

The appointment of the administrators was valid as it only became effective when the statutory requirements were satisfied on 24 November 2003, at which point the floating charge was enforceable. Even if this were not so, Fliptex was estopped from challenging the appointment due to its acquiescence and delay. Fliptex was unable to pay its debts as they fell due. No grounds for injunctive relief were established.

Citation
[2004] EWHC 1280 (Ch)
Parties
Claimant: Fliptex Limited; First Defendant: Lisa Hogg; Second Defendant: David James Elliot; Third Defendant: Stewart James Davies; Fourth Defendant: Melvin Laughton
Jurisdiction
England and Wales
Judgment Date
28 May 2004
Procedural Posture
Interim Injunction Application / Judgment on Application for Injunction
Outcome
Application for injunction dismissed
Legal Topics
Appointment of Administrators, Validity of Administrator Appointment, Insolvency Act 1986 Schedule B1, Floating Charge Enforceability, Injunctions, Estoppel by Acquiescence
Insolvency Company Law Property Law Appointment of Administrators Validity of Administrator Appointment Insolvency Act 1986 Schedule B1 Floating Charge Enforceability Injunctions +1 more

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Parties

Fliptex Limited

Claimant

Lisa Hogg

First Defendant

David James Elliot

Second Defendant

Stewart James Davies

Third Defendant

Melvin Laughton

Fourth Defendant

Procedural Posture

Interim Injunction Application / Judgment on Application for Injunction

Legal Issues

  1. 1 Whether the appointment of administrators over Fliptex Limited was valid under Schedule B1 of the Insolvency Act 1986
  2. 2 Whether Fliptex was unable to pay its debts as they fell due
  3. 3 Whether the balance of convenience favoured granting an injunction to restrain acceptance of lease surrenders

Ratio Decidendi

The appointment of the administrators was valid as it only became effective when the statutory requirements were satisfied on 24 November 2003, at which point the floating charge was enforceable. Even if this were not so, Fliptex was estopped from challenging the appointment due to its acquiescence and delay. Fliptex was unable to pay its debts as they fell due. No grounds for injunctive relief were established.

Court Disposition

Application for injunction dismissed

Orders

  • Claimant's application for an injunction is refused