Plants to Go Ltd, Re

Plants to Go Ltd, Re

The court exercised its discretion to make a retrospective administration order because there was a realistic prospect of achieving a better result for creditors through administration, the omission to serve notice could be cured, and the directors' waiver of substantial indebtedness further supported the appropriateness of the order.

Parties
Applicant: Mr Stephen Jeffries; Applicant: Mrs Tina Jeffries; Applicant: Theodoulos Papanicola (As Administrator of Plants to Go Limited); Respondent: Devon & Cornwall Securities Limited; Respondent: Lynn Gibson
Jurisdiction
England and Wales
Judgment Date
27 April 2009
Procedural Posture
Insolvency / Application for Administration Order
Outcome
administration order granted with retrospective effect
Legal Topics
Administration Order, Pre Pack Administration, Retrospective Order, Qualifying Floating Charge, Company Voluntary Arrangement
Insolvency Law Company Law Administration Order Pre Pack Administration Retrospective Order Qualifying Floating Charge Company Voluntary Arrangement

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Parties

Mr Stephen Jeffries

Applicant

Mrs Tina Jeffries

Applicant

Theodoulos Papanicola (As Administrator of Plants to Go Limited)

Applicant

Devon & Cornwall Securities Limited

Respondent

Lynn Gibson

Respondent

Procedural Posture

Insolvency / Application for Administration Order

Legal Issues

  1. 1 Whether the court should make a retrospective administration order for Plants to Go Limited
  2. 2 Whether the omission to serve notice on a qualifying charge holder invalidated the out of court appointment
  3. 3 Whether administration would achieve a better result for creditors than winding up

Ratio Decidendi

The court exercised its discretion to make a retrospective administration order because there was a realistic prospect of achieving a better result for creditors through administration, the omission to serve notice could be cured, and the directors' waiver of substantial indebtedness further supported the appropriateness of the order.

Court Disposition

administration order granted with retrospective effect

Orders

  • Administration order made in relation to Plants to Go Limited with retrospective effect from 12.35 pm on 13th March 2009.
  • Directors to waive substantial indebtedness as recorded in the order.