Fielding & Anor v Hunt

Fielding & Anor v Hunt

The Fieldings' proof of debt is admitted because the rollover debt was not converted to share capital, ransom and retention of title payments were made for BGL's benefit, the Vital claim is validly assigned and admitted to the extent claimed, rent for Century House is owed, the director's loan account has a positive balance, and the RBS overdraft payment is recoverable. Credit for the £1.3 million already paid is given.

Parties
Applicant: Gary John Fielding; Applicant: Sally Anne Fielding; Respondent: Stephen Hunt
Jurisdiction
England and Wales
Judgment Date
15 February 2017
Procedural Posture
Insolvency Appeal / Judgment
Outcome
appeal allowed; proof of debt admitted
Legal Topics
Proof of Debt, Liquidator's Rejection, Misfeasance, Assignment of Debt, Directors' Loan Account, Ransom Payments, Retention of Title, Leasehold Liability
Insolvency Company Law Proof of Debt Liquidator's Rejection Misfeasance Assignment of Debt Directors' Loan Account Ransom Payments +2 more

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Parties

Gary John Fielding

Applicant

Sally Anne Fielding

Applicant

Stephen Hunt

Respondent

Procedural Posture

Insolvency Appeal / Judgment

Legal Issues

  1. 1 Whether the Fieldings' proof of debt against Burnden Group Limited should be admitted
  2. 2 Whether the rollover debt was converted to share capital or remained a loan
  3. 3 Validity and quantum of ransom and retention of title payments

Ratio Decidendi

The Fieldings' proof of debt is admitted because the rollover debt was not converted to share capital, ransom and retention of title payments were made for BGL's benefit, the Vital claim is validly assigned and admitted to the extent claimed, rent for Century House is owed, the director's loan account has a positive balance, and the RBS overdraft payment is recoverable. Credit for the £1.3 million already paid is given.

Court Disposition

appeal allowed; proof of debt admitted

Orders

  • Proof of debt admitted in the sum of £4,568,056.90 less credit for £1,300,000 already paid.
  • Final balance allowed to the Fieldings: £3,268,056.90.