Manolete Partners Plc v Coleman & Ors (Re David Coleman & Co Ltd) [2022] EWHC 2644 (Ch) (20 October 2022)

Manolete Partners Plc v Coleman & Ors (Re David Coleman & Co Ltd) [2022] EWHC 2644 (Ch) (20 October 2022)

Mr Coleman rebutted the statutory presumption of desire to prefer; payments to him and FCTL were not preferences. Mr Thacker received a preference by extinguishing his debt via director's loan account debit; presumption not rebutted; judgment awarded against him.

Citation
[2022] EWHC 2644 (Ch)
Parties
Applicant: Manolete Partners Plc; First Respondent: David Coleman; Second Respondent: Simon Thacker; Third Respondent: Funding Circle Trustee Limited
Jurisdiction
England and Wales
Judgment Date
20 October 2022
Procedural Posture
Insolvency Application / Judgment After Trial
Outcome
Application against Mr Coleman dismissed; judgment against Mr Thacker for preference.
Legal Topics
Preference Claims, Connected Persons, Director's Loan Accounts, Liquidation, Statutory Presumptions
Insolvency Company Law Preference Claims Connected Persons Director's Loan Accounts Liquidation Statutory Presumptions

Case Brief

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Parties

Manolete Partners Plc

Applicant

David Coleman

First Respondent

Simon Thacker

Second Respondent

Funding Circle Trustee Limited

Third Respondent

Procedural Posture

Insolvency Application / Judgment After Trial

Legal Issues

  1. 1 Whether payments and account debits constituted preferences under s.239 Insolvency Act 1986
  2. 2 Whether statutory presumptions of insolvency and desire to prefer were rebutted
  3. 3 Whether relief should be granted to restore the position absent the preferences

Ratio Decidendi

Mr Coleman rebutted the statutory presumption of desire to prefer; payments to him and FCTL were not preferences. Mr Thacker received a preference by extinguishing his debt via director's loan account debit; presumption not rebutted; judgment awarded against him.

Court Disposition

Application against Mr Coleman dismissed; judgment against Mr Thacker for preference.

Orders

  • Judgment against Mr Thacker for £33,542.20 to restore position as if preference not given.
  • Application against Mr Coleman dismissed.