28 Feb 2008
G R HOOLE AND K D PITFIELD IN THEIR CAPACITY AS THE RECEIVER AND MANAGERS OF HILLCREST SERVICES LIMITED (IN RECEIVERSHIP) AND ANOR V BARRYS CAR SALES LIMITED AND ANOR HC AK CIV 2007-404-4298
- Citation
- openlaw-bf7cee1c_3fa3_4671_899e_1ffb0d9d797d.pdf
- Court
- High Court
Because the defendants did not comply with the statutory demands and did not set them aside, the s 287 presumption arose; they failed to rebut that presumption under the cash flow solvency test and produced no admissible evidence of valid set-offs or cross-claims equal to or exceeding the demands; their appeal could not proceed because ordered security for costs was not paid; consequently the court ordered both defendant companies into liquidation and awarded costs to the plaintiffs; leave was granted for Patrick Antony Darby to represent the companies to avoid miscarriage of justice.