Computer Servicing South East Ltd, Re Insolvency Act 1986 [2001] EWCA Civ 1437 (19 September 2001)

Computer Servicing South East Ltd, Re Insolvency Act 1986 [2001] EWCA Civ 1437 (19 September 2001)

Given the credible prospect of a substantial investment that would render the company solvent and benefit creditors, it is appropriate to adjourn the application for permission to appeal, extend time for rescission application, and stay winding-up proceedings to allow the investment to be completed.

Source-derived case information.

Citation
[2001] EWCA Civ 1437
Parties
Applicant: Computer Servicing South East Ltd; Respondent: Customs and Excise
Jurisdiction
England and Wales
Judgment Date
19 September 2001
Procedural Posture
Appeal / Application for Permission to Appeal Against Winding Up Order
Outcome
Application for permission to appeal adjourned; time for rescission application extended; winding-up proceedings stayed.
Legal Topics
Winding Up Order, Rescission of Winding Up, Insolvency Act 1986, Investment to Restore Solvency
Insolvency Company Law Winding Up Order Rescission of Winding Up Insolvency Act 1986 Investment to Restore Solvency

Source-derived case record

Summary, issues, holding and outcome

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Parties

Computer Servicing South East Ltd

Applicant

Customs and Excise

Respondent

Procedural Posture

Appeal / Application for Permission to Appeal Against Winding Up Order

Legal Issues

  1. 1 Whether to grant permission to appeal against the winding-up order
  2. 2 Whether to extend time for application for rescission of the winding-up order
  3. 3 Whether to stay winding-up proceedings pending potential investment

Ratio Decidendi

Given the credible prospect of a substantial investment that would render the company solvent and benefit creditors, it is appropriate to adjourn the application for permission to appeal, extend time for rescission application, and stay winding-up proceedings to allow the investment to be completed.

Court Disposition

Application for permission to appeal adjourned; time for rescission application extended; winding-up proceedings stayed.

Orders

  • Adjournment of application for permission to appeal to 16 October 2001
  • Extension of time for application for rescission of winding-up order to 16 October 2001