Hedger v Adams

Hedger v Adams

Mr Adams did not breach his duties under ss 172 or 174 Companies Act 2006 as he acted honestly, reasonably, and on professional advice; the contract price was fair and exceeded auction value; no loss was suffered by the Liquidator.

Parties
Applicant: John David Hedger; Respondent: David Adams
Jurisdiction
England and Wales
Judgment Date
02 September 2015
Procedural Posture
Application Under S 212 Insolvency Act 1986 / Judgment
Outcome
Application dismissed
Legal Topics
Directors' Duties, Breach of Fiduciary Duty, Substantial Property Transactions, Liquidation, Assessment of Loss
Company Law Insolvency Law Directors' Duties Breach of Fiduciary Duty Substantial Property Transactions Liquidation Assessment of Loss

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Parties

John David Hedger

Applicant

David Adams

Respondent

Procedural Posture

Application Under S 212 Insolvency Act 1986 / Judgment

Legal Issues

  1. 1 Whether Mr Adams breached his duties under ss 172, 174, and 190 Companies Act 2006
  2. 2 Whether Mr Adams is liable to indemnify Pro4Sport for loss under s 195 Companies Act 2006
  3. 3 Assessment of loss suffered by the Liquidator

Ratio Decidendi

Mr Adams did not breach his duties under ss 172 or 174 Companies Act 2006 as he acted honestly, reasonably, and on professional advice; the contract price was fair and exceeded auction value; no loss was suffered by the Liquidator.

Court Disposition

Application dismissed