Inertia Partnership LLP, Re

Inertia Partnership LLP, Re

TIP breached the general prohibition by making arrangements for the sale of shares in Plasma and Police 5, was insolvent, and it is just and equitable to wind it up to protect the public interest and mark disapproval of its conduct.

Parties
Petitioner: Financial Services Authority; Respondent: The Inertia Partnership LLP
Jurisdiction
England and Wales
Judgment Date
23 February 2007
Procedural Posture
Winding Up Petition / Judgment
Outcome
winding-up order granted
Legal Topics
Regulated Activities, General Prohibition, Winding Up, Just and Equitable Ground, Consumer Protection
Financial Regulation Insolvency Company Law Regulated Activities General Prohibition Winding Up Just and Equitable Ground Consumer Protection

Case Brief

Summary, issues, holding and outcome

More case intelligence is available

Unlock the full research layer for this judgment.

Full judgment text Downloadable case file Legal principles 4 Authorities cited 9 Party arguments 2 Amounts and remedies 9
Sign in to unlock

Parties

Financial Services Authority

Petitioner

The Inertia Partnership LLP

Respondent

Procedural Posture

Winding Up Petition / Judgment

Legal Issues

  1. 1 Whether TIP conducted regulated activity in breach of the general prohibition under FSMA
  2. 2 Whether TIP was insolvent at the relevant time
  3. 3 Whether it is just and equitable to wind up TIP

Ratio Decidendi

TIP breached the general prohibition by making arrangements for the sale of shares in Plasma and Police 5, was insolvent, and it is just and equitable to wind it up to protect the public interest and mark disapproval of its conduct.

Court Disposition

winding-up order granted

Orders

  • TIP to be wound up by the court
  • Leave granted to FSA to amend petition to rely on insolvency