14 Apr 2015
MARSHEL EXPORTS LTD v. BANK OF BARODA
- Citation
- MARSHEL EXPORTS LTD v. BANK OF BARODA
- Court
- Court of Appeal
- Case number
- CACV185/2014
The Court held the post-petition loans advanced into overdrawn accounts were not, by virtue of being loans from the bank, dispositions of the companies\u2019 assets under s182. On the factual findings (unappealed) the charged properties were at all material times charged to full value immediately before each advance, so no diminution of the companies\u2019 equities occurred; accordingly there were no dispositions under s182 and the liquidators\u2019 applications failed.