Tailby , Re TPS Investments (UK) Ltd

Tailby , Re TPS Investments (UK) Ltd

A nine months’ extension to the administrator’s term is appropriate and proportionate given the unresolved sale of property and pending trust claims. All parties with an interest consent, and no alternative insolvency regime is suitable. The order should record the Alpha Companies’ consent as a matter of fact, without prejudicing the secured creditor’s position.

Parties
Applicant: Mark Grahame Tailby; Company: TPS Investments (UK) Limited (In Administration); Secured Creditor: Hutchinson Telecom FZCO; Entities Asserting Prior Interest: Alpha Companies
Jurisdiction
England and Wales
Judgment Date
11 May 2020
Procedural Posture
Insolvency Administration / Application for Extension of Administrator’s Term of Office
Outcome
Application granted
Legal Topics
Administration Extension, Remote Hearings During Covid 19, Preparation of Electronic Bundles
Insolvency Law Administration Extension Remote Hearings During Covid 19 Preparation of Electronic Bundles

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Parties

Mark Grahame Tailby

Applicant

TPS Investments (UK) Limited (In Administration)

Company

Hutchinson Telecom FZCO

Secured Creditor

Alpha Companies

Entities Asserting Prior Interest

Procedural Posture

Insolvency Administration / Application for Extension of Administrator’s Term of Office

Legal Issues

  1. 1 Whether to grant a nine months’ extension to the administrator’s term of office
  2. 2 Appropriate preparation for remote hearings and electronic bundles

Ratio Decidendi

A nine months’ extension to the administrator’s term is appropriate and proportionate given the unresolved sale of property and pending trust claims. All parties with an interest consent, and no alternative insolvency regime is suitable. The order should record the Alpha Companies’ consent as a matter of fact, without prejudicing the secured creditor’s position.

Court Disposition

Application granted

Orders

  • Administrator’s term extended by nine months to 10 February 2021
  • Order to record Alpha Companies’ consent to the extension