Twizell & Anor v Entrust & Ors

Twizell & Anor v Entrust & Ors

The proceeds of sale of the site acquired with qualifying contributions are assets of the company and not held on trust for CDENT or any other party. The administrators are authorised to sell the site. Entrust has no standing or statutory power to enforce the obligations under the Regulations against the company or administrators; such powers rest with HMRC or through revocation of approval.

Parties
Respondents: Twizell & Anr; Appellants: Entrust & Ors
Jurisdiction
England and Wales
Judgment Date
12 November 2009
Procedural Posture
Civil Appeal / Court of Appeal Judgment
Outcome
Appeal dismissed
Legal Topics
Landfill Tax, Environmental Credit Scheme, Insolvency Administration, Regulatory Powers, Trusts and Company Assets
Insolvency Law Tax Law Administrative Law Landfill Tax Environmental Credit Scheme Insolvency Administration Regulatory Powers Trusts and Company Assets

Case Brief

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Parties

Twizell & Anr

Respondents

Entrust & Ors

Appellants

Procedural Posture

Civil Appeal / Court of Appeal Judgment

Legal Issues

  1. 1 Whether administrators should be authorised to sell company assets acquired with qualifying contributions under the Environment Credit Scheme
  2. 2 Whether proceeds of sale are assets of the company or held on trust for a third party (CDENT)
  3. 3 Whether Entrust has standing or powers to enforce obligations under the Regulations

Ratio Decidendi

The proceeds of sale of the site acquired with qualifying contributions are assets of the company and not held on trust for CDENT or any other party. The administrators are authorised to sell the site. Entrust has no standing or statutory power to enforce the obligations under the Regulations against the company or administrators; such powers rest with HMRC or through revocation of approval.

Court Disposition

Appeal dismissed

Orders

  • Entrust's appeal dismissed
  • Entrust to pay the costs of the appeal to the administrators on an indemnity basis, assessed if not agreed