Legacy Education Alliance Interational Ltd v Progression Ltd & Ors [2019] EWHC 3498 (Ch) (15 November 2019)
Administration order is granted as it is the natural and usual response to the circumstances; adjournment poses substantial risk of harm to creditors, and prospects of CVA approval and implementation are not high.
- Citation
- [2019] EWHC 3498 (Ch)
- Parties
- Company: Legacy Education Alliance International Limited; Applicants/creditors: Progression Limited & Ors
- Jurisdiction
- England and Wales
- Judgment Date
- 15 November 2019
- Procedural Posture
- Administration Application / Final Hearing
- Outcome
- administration order granted
- Legal Topics
- Administration Order, Discretion Under Insolvency Act 1986, Creditors' Interests, CVA Proposal, Prepaid Customer Claims
Case Brief
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Parties
Legacy Education Alliance International Limited
Company
Progression Limited & Ors
Applicants/creditors
Procedural Posture
Administration Application / Final Hearing
Legal Issues
- 1 Whether to exercise discretion to grant administration order or adjourn for CVA proposal
- 2 Assessment of creditor and customer interests
- 3 Evaluation of financial outcomes under administration vs CVA
Ratio Decidendi
Administration order is granted as it is the natural and usual response to the circumstances; adjournment poses substantial risk of harm to creditors, and prospects of CVA approval and implementation are not high.
Court Disposition
administration order granted
Orders
- Administration order made for Legacy Education Alliance International Limited
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