WW Realisation 1 Ltd

WW Realisation 1 Ltd

The court has jurisdiction to give directions to administrators analogous to those given to liquidators, including limiting distributions to claims lodged by a specified date, and it is appropriate to do so in this case given the opportunities already afforded to creditors to submit claims and the need for finality in the administration and liquidation process.

Parties
Claimant/respondent: WW Realisation 1 Limited (in administration)
Jurisdiction
England and Wales
Judgment Date
12 November 2010
Procedural Posture
Insolvency/administration Application / Judgment on Application for Directions and Transition to Liquidation
Outcome
Application granted; directions given as sought by administrators.
Legal Topics
Administration to Liquidation Transition, Distribution of Assets, Administration Expenses, Directions to Administrators and Liquidators
Insolvency Law Company Law Administration to Liquidation Transition Distribution of Assets Administration Expenses Directions to Administrators and Liquidators

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Parties

WW Realisation 1 Limited (in administration)

Claimant/respondent

Procedural Posture

Insolvency/administration Application / Judgment on Application for Directions and Transition to Liquidation

Legal Issues

  1. 1 Whether the court should grant directions allowing administrators to distribute surplus funds to the second secured creditor without provision for unlodged expense claims unless made by a specified date
  2. 2 Whether the court has jurisdiction to give such directions in administration as in liquidation

Ratio Decidendi

The court has jurisdiction to give directions to administrators analogous to those given to liquidators, including limiting distributions to claims lodged by a specified date, and it is appropriate to do so in this case given the opportunities already afforded to creditors to submit claims and the need for finality in the administration and liquidation process.

Court Disposition

Application granted; directions given as sought by administrators.

Orders

  • Administrators' appointment to cease; company to be wound up.
  • Two administrators to become joint liquidators.