UK Steelfixers Ltd [2012] EWHC 2409 (Ch) (23 July 2012)

UK Steelfixers Ltd [2012] EWHC 2409 (Ch) (23 July 2012)

Court declined to make an administration order, exercising discretion, and ordered winding-up so that post-petition transactions could be properly investigated under section 127 Insolvency Act 1986.

Citation
[2012] EWHC 2409 (Ch)
Parties
Company: UK Steelfixers Ltd; Petitioner: HMRC; Director: Mr Morrison; Employee/proposed Purchaser: Mr Mark Harrison; Applicant's Counsel: Mr M Weaver
Jurisdiction
England and Wales
Judgment Date
23 July 2012
Procedural Posture
Administration Application and Winding Up Petition / Judgment on Administration Application and Winding Up Order
Outcome
Winding-up order made; administration application refused.
Legal Topics
Administration Order, Winding Up, Post Petition Dispositions, Section 127 Insolvency Act 1986, Prepack Sale
Insolvency Company Law Administration Order Winding Up Post Petition Dispositions Section 127 Insolvency Act 1986 Prepack Sale

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Parties

UK Steelfixers Ltd

Company

HMRC

Petitioner

Mr Morrison

Director

Mr Mark Harrison

Employee/proposed Purchaser

Mr M Weaver

Applicant's Counsel

Procedural Posture

Administration Application and Winding Up Petition / Judgment on Administration Application and Winding Up Order

Legal Issues

  1. 1 Whether administration order should be made or company wound up
  2. 2 Validity of post-petition dispositions under section 127 Insolvency Act 1986
  3. 3 Appropriateness of prepack sale to Mr Harrison's company

Ratio Decidendi

Court declined to make an administration order, exercising discretion, and ordered winding-up so that post-petition transactions could be properly investigated under section 127 Insolvency Act 1986.

Court Disposition

Winding-up order made; administration application refused.

Orders

  • Winding-up petition removed to Birmingham court.
  • Compulsory winding-up order made.