16 Feb 2011
It is not necessary in every s86 application for the assignor company to file evidence on solvency or winding-up prospects; an applicant's evidence explaining the circumstances of the failure to register and stating that there is no reason to believe the assignor faces liquidation suffices. On that basis the court will grant the requested extension.
16 Feb 2011
Where an applicant explains the circumstances of the failure to register a charge and files evidence stating it has no reason to believe the assignor will be put into liquidation, it is unnecessary in every case to require a separate affidavit from an officer of the assignor addressing solvency; accordingly the court granted the 28 day extension to register the assignments.
16 Feb 2011
The court held that requiring evidence from each assignor company on solvency and winding up prospects is not necessary in every case; sufficient evidence is an explanation of the circumstances of the failure to register and a statement that there is no reason to believe the assignor faces liquidation, and on that basis the 28 day extension was granted.
16 Feb 2011
It is not necessary in every case for an assignor company to file evidence addressing solvency and prospects of winding up; an applicant seeking an extension under section 86 must file evidence explaining the circumstances of the failure to register and stating it has no reason to believe the assignor is likely to be put into liquidation. The court granted the 28-day extension on that basis.