Business Dream Ltd, Re Insolvency Act 1986

The interim moratorium under paragraph 44(4) took effect upon filing the notice to appoint an administrator, rendering the members' resolution for voluntary liquidation and the appointment of Mr Brooksbank as liquidator invalid. Consequently, the court had no jurisdiction to sanction the disposal of assets under section 166.

Parties: Applicant: Christopher Brooksbank; Company: Business Dream Limited; Secured Creditor: Elavon Financial Services Ltd
Jurisdiction: England and Wales
Judgment Date: 02 November 2011
Procedural Posture: Insolvency Application / Judgment on Application for Sanction of Asset Sale and Disclaimer of Leases
Outcome: Application dismissed for want of jurisdiction due to invalid appointment of liquidator.
Legal Topics: Appointment of Liquidator, Moratorium Under Insolvency Act, Sale of Assets in Insolvency, Disclaimer of Leases, Section 166 of Insolvency Act

Insolvency Law Company Law Appointment of Liquidator Moratorium Under Insolvency Act Sale of Assets in Insolvency Disclaimer of Leases Section 166 of Insolvency Act

Case Brief

Summary, issues, holding and outcome

More case intelligence is available

Unlock the full research layer for this judgment.

Full judgment text Downloadable case file Legal principles 4 Authorities cited 4 Party arguments 2 Amounts and remedies 12

Parties

Christopher Brooksbank

Applicant

Business Dream Limited

Company

Elavon Financial Services Ltd

Secured Creditor

Procedural Posture

Insolvency Application / Judgment on Application for Sanction of Asset Sale and Disclaimer of Leases

Legal Issues

1 Whether the appointment of Mr Brooksbank as liquidator was valid
2 Whether the court has jurisdiction to sanction the sale of assets and disclaimer of leases under section 166 of the Insolvency Act 1986

Ratio Decidendi

Court Disposition

Application dismissed for want of jurisdiction due to invalid appointment of liquidator.