World Class Homes Ltd, Re

BDO Stoy Hayward nominees were appointed as administrators due to their existing acquaintance with the company’s affairs, ability to gauge interest from prospective buyers, and minor practical advantages, with no evidence of lack of independence or confidence.

Parties: Applicant: World Class Homes Limited; Respondent: Madison Advertising
Jurisdiction: England and Wales
Judgment Date: 04 November 2004
Procedural Posture: Administration Application / Judgment
Outcome: Administration Order granted; BDO Stoy Hayward nominees appointed as administrators.
Legal Topics: Administration Order, Appointment of Administrators, Creditor Rights

Insolvency Company Law Administration Order Appointment of Administrators Creditor Rights

Case Brief

Summary, issues, holding and outcome

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Full judgment text Downloadable case file Legal principles 2 Authorities cited 2 Party arguments 2 Amounts and remedies 1

Parties

World Class Homes Limited

Applicant

Madison Advertising

Respondent

Procedural Posture

Administration Application / Judgment

Legal Issues

1 Whether the company is or is likely to become unable to pay its debts
2 Whether the administration order is reasonably likely to achieve the purpose of administration
3 Who should be appointed as administrator

Ratio Decidendi

Court Disposition

Administration Order granted; BDO Stoy Hayward nominees appointed as administrators.

Orders

Administration Order made appointing Geoffrey Stuart Kinman and Anthony John Sanderson as administrators.
Costs of the petitioner and attendance on the Administration Application to be added as costs of the administration.