Golstein v Bishop & Anor

Golstein v Bishop & Anor

The seriousness of the material irregularity, absence of unreasonable delay or prejudice attributable to the applicant, and the interests of creditors require the court to revoke the approval of the IVA under section 262(4)(a). No special circumstances justify withholding relief. Validation of the supervisor's acts and fees is appropriate, and provision should be made for the applicant's petition costs.

Parties
Applicant/appellant: Joseph Golstein; First Respondent: Colin Michael Arthur Bishop; Second Respondent/supervisor of IVA: Nicholas Barnett
Jurisdiction
England and Wales
Judgment Date
07 November 2016
Procedural Posture
Insolvency Appeal / Remedies Following Successful Appeal on Material Irregularity in IVA Approval
Outcome
Approval of the IVA revoked under section 262(4)(a) of the Insolvency Act 1986.
Legal Topics
Individual Voluntary Arrangement (iva), Material Irregularity, Exercise of Discretion Under Insolvency Act, Revocation of IVA Approval
Insolvency Law Individual Voluntary Arrangement (iva) Material Irregularity Exercise of Discretion Under Insolvency Act Revocation of IVA Approval

Case Brief

Summary, issues, holding and outcome

More case intelligence is available

Unlock the full research layer for this judgment.

Full judgment text Downloadable case file Legal principles 3 Authorities cited 3 Party arguments 2 Amounts and remedies 5
Sign in to unlock

Parties

Joseph Golstein

Applicant/appellant

Colin Michael Arthur Bishop

First Respondent

Nicholas Barnett

Second Respondent/supervisor of IVA

Procedural Posture

Insolvency Appeal / Remedies Following Successful Appeal on Material Irregularity in IVA Approval

Legal Issues

  1. 1 Whether the approval of the IVA should be revoked under section 262(4)(a) of the Insolvency Act 1986 following a finding of material irregularity
  2. 2 Whether delay or alleged prejudice to the debtor or supervisor precludes relief
  3. 3 Whether the acts and fees of the supervisor should be validated upon revocation

Ratio Decidendi

The seriousness of the material irregularity, absence of unreasonable delay or prejudice attributable to the applicant, and the interests of creditors require the court to revoke the approval of the IVA under section 262(4)(a). No special circumstances justify withholding relief. Validation of the supervisor's acts and fees is appropriate, and provision should be made for the applicant's petition costs.

Court Disposition

Approval of the IVA revoked under section 262(4)(a) of the Insolvency Act 1986.

Orders

  • The approval of the IVA is revoked.
  • The acts of the supervisor, Mr Barnett, are validated, subject to creditors’ right to apply to vary or set aside.