Armstrong Brands Ltd, Re [2015] EWHC 3303 (Ch) (18 November 2015)

Armstrong Brands Ltd, Re [2015] EWHC 3303 (Ch) (18 November 2015)

The debenture and loan agreement were validly executed when Mr Armstrong was a director, satisfying section 44 Companies Act 2006; thus, JB held a valid qualifying floating charge and the administrators' appointment was valid.

Citation
[2015] EWHC 3303 (Ch)
Parties
Company: Armstrong Brands Limited (In Administration); Appointor/charge Holder: J. B. Armstrong & Co. Ltd; Applicant: Applicant Administrators
Jurisdiction
England and Wales
Judgment Date
18 November 2015
Procedural Posture
Insolvency Application / Judgment Following Hearing on Validity of Administrators' Appointment
Outcome
Appointment of administrators and all acts, including extensions, declared valid.
Legal Topics
Validity of Appointment of Administrators, Execution of Company Documents, Qualifying Floating Charge, Section 44 Companies Act 2006
Insolvency Company Law Validity of Appointment of Administrators Execution of Company Documents Qualifying Floating Charge Section 44 Companies Act 2006

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Parties

Armstrong Brands Limited (In Administration)

Company

J. B. Armstrong & Co. Ltd

Appointor/charge Holder

Applicant Administrators

Applicant

Procedural Posture

Insolvency Application / Judgment Following Hearing on Validity of Administrators' Appointment

Legal Issues

  1. 1 Whether the appointment of administrators was valid under a qualifying floating charge
  2. 2 Whether the debenture was validly executed under section 44 of the Companies Act 2006

Ratio Decidendi

The debenture and loan agreement were validly executed when Mr Armstrong was a director, satisfying section 44 Companies Act 2006; thus, JB held a valid qualifying floating charge and the administrators' appointment was valid.

Court Disposition

Appointment of administrators and all acts, including extensions, declared valid.

Orders

  • Declaration that the appointment of administrators was valid.
  • Declaration that all acts carried out by the administrators, including the extension of administration, were valid.