One Blackfriars Ltd, Re

One Blackfriars Ltd, Re

The administrators complied with all statutory and common law duties throughout the administration. They acted independently, took appropriate advice, properly assessed value and planning potential, marketed the Site appropriately, and obtained the best price reasonably obtainable. No breach of duty was established and the claim failed.

Parties
Applicant: Adrian Charles Hyde; Applicant: Kevin Anthony Murphy; Respondent: Antony David Nygate; Respondent: Sarah Megan Rayment
Jurisdiction
England and Wales
Judgment Date
23 March 2021
Procedural Posture
Civil / Final Judgment
Outcome
Claim dismissed
Legal Topics
Administrator Duties, Sale at Undervalue, Planning Consent, Marketing of Assets, Fiduciary Duties
Insolvency Company Law Administrator Duties Sale at Undervalue Planning Consent Marketing of Assets Fiduciary Duties

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Parties

Adrian Charles Hyde

Applicant

Kevin Anthony Murphy

Applicant

Antony David Nygate

Respondent

Sarah Megan Rayment

Respondent

Procedural Posture

Civil / Final Judgment

Legal Issues

  1. 1 Whether administrators breached statutory and common law duties in the conduct of administration
  2. 2 Whether sale of the Site was at an undervalue
  3. 3 Whether administrators failed to properly assess value and planning potential

Ratio Decidendi

The administrators complied with all statutory and common law duties throughout the administration. They acted independently, took appropriate advice, properly assessed value and planning potential, marketed the Site appropriately, and obtained the best price reasonably obtainable. No breach of duty was established and the claim failed.

Court Disposition

Claim dismissed