Fliptex Ltd v Hogg & Ors

Fliptex Ltd v Hogg & Ors

The appointment of administrators was valid as it only became effective when the statutory requirements were satisfied on 24th November 2003, at which point the floating charge was enforceable. Fliptex was unable to pay its debts as they fell due. Even if the appointment had been invalid, Fliptex was estopped from challenging it due to delay and acquiescence. No grounds existed for granting the injunction.

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
Interlocutory Application / Ruling on Application for Injunction
Outcome
Application dismissed
Legal Topics
Appointment of Administrators, Validity of Administrator Appointment, Injunctions, Floating Charge Enforceability, Insolvency Act 1986 Interpretation
Insolvency Company Law Property Law Appointment of Administrators Validity of Administrator Appointment Injunctions Floating Charge Enforceability Insolvency Act 1986 Interpretation

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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

Interlocutory Application / Ruling on Application for Injunction

Legal Issues

  1. 1 Whether the appointment of administrators was valid under the Insolvency Act 1986 and related rules
  2. 2 Whether Fliptex was unable to pay its debts as they fell due
  3. 3 Whether an injunction should be granted to restrain the acceptance of lease surrenders

Ratio Decidendi

The appointment of administrators was valid as it only became effective when the statutory requirements were satisfied on 24th November 2003, at which point the floating charge was enforceable. Fliptex was unable to pay its debts as they fell due. Even if the appointment had been invalid, Fliptex was estopped from challenging it due to delay and acquiescence. No grounds existed for granting the injunction.

Court Disposition

Application dismissed

Orders

  • Claimant's application for an injunction is refused