Bootes & Ors v Ceart Risk Services Ltd

Bootes & Ors v Ceart Risk Services Ltd

Failure to obtain prior FSA consent constitutes a curable defect in the appointment of administrators; the appointment takes effect when the FSA's written consent is filed with the court, and acts prior to valid appointment are validated by paragraph 104 of Schedule B1.

Parties
Applicant: Peter Lloyd Bootes; Applicant: Jeremy Charles Frost; Applicant: Stephen Patrick Jens Wadstead; Respondent: Ceart Risk Services Limited
Jurisdiction
England and Wales
Judgment Date
03 May 2012
Procedural Posture
Application / Judgment
Outcome
Application granted
Legal Topics
Appointment of Administrators, Regulatory Consent, Validation of Acts, Statutory Construction
Insolvency Company Law Financial Regulation Appointment of Administrators Regulatory Consent Validation of Acts Statutory Construction

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Parties

Peter Lloyd Bootes

Applicant

Jeremy Charles Frost

Applicant

Stephen Patrick Jens Wadstead

Applicant

Ceart Risk Services Limited

Respondent

Procedural Posture

Application / Judgment

Legal Issues

  1. 1 Whether administrators were validly appointed without prior FSA consent
  2. 2 Whether subsequent FSA consent cures defect in appointment
  3. 3 Whether acts prior to valid appointment are valid under paragraph 104 of Schedule B1

Ratio Decidendi

Failure to obtain prior FSA consent constitutes a curable defect in the appointment of administrators; the appointment takes effect when the FSA's written consent is filed with the court, and acts prior to valid appointment are validated by paragraph 104 of Schedule B1.

Court Disposition

Application granted

Orders

  • Declaration that the appointment of the Administrators took effect when the FSA’s consent was filed with Croydon County Court
  • Declaration that the Administrators’ acts between 19 January 2012 and the date of filing of FSA consent were valid