IGL Ltd v Malcolm Insulation Supplies Ltd & Ors [2014] ScotCS CSOH_170 (03 December 2014)

IGL Ltd v Malcolm Insulation Supplies Ltd & Ors [2014] ScotCS CSOH_170 (03 December 2014)

The settlement agreement required the liquidator to adjudicate the BPB and RHPUT claims in the manner envisaged by section 49 of the Bankruptcy (Scotland) Act 1985, which included acknowledging the BPB decree. The defenders, by their conduct in the appeal process and failure to object timeously, are personally barred from challenging the adjudication now. The liquidator's decision stands and the defenders are liable for the adjudicated sums.

Citation
[2014] ScotCS CSOH_170
Parties
Pursuer: IGL Ltd (in liquidation) and Fraser James Gray, the Liquidator; Defender: Malcolm Insulation Supplies Ltd; Defender: William McLaren Malcolm; Defender: Osborne McLaren Malcolm; Defender: Archibald Campbell Malcolm
Jurisdiction
Scotland
Judgment Date
03 December 2014
Procedural Posture
Commercial Action for Payment/recovery of Sums in Liquidation / Judgment After Debate on Minute for Decree Following Settlement Adjudication and Appeals
Outcome
Decree granted for the pursuers for the adjudicated sums.
Legal Topics
Liquidation, Adjudication of Claims, Settlement Agreements, Personal Bar, Approbate and Reprobate, Dividend Unlawfulness
Insolvency Contract Company Law Liquidation Adjudication of Claims Settlement Agreements Personal Bar Approbate and Reprobate +1 more

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Parties

IGL Ltd (in liquidation) and Fraser James Gray, the Liquidator

Pursuer

Malcolm Insulation Supplies Ltd

Defender

William McLaren Malcolm

Defender

Osborne McLaren Malcolm

Defender

Archibald Campbell Malcolm

Defender

Procedural Posture

Commercial Action for Payment/recovery of Sums in Liquidation / Judgment After Debate on Minute for Decree Following Settlement Adjudication and Appeals

Legal Issues

  1. 1 Whether the liquidator properly construed and applied the settlement agreement in adjudicating the BPB and RHPUT claims
  2. 2 Whether the defenders are personally barred or have approbated and reprobated by their conduct from challenging the liquidator's decision

Ratio Decidendi

The settlement agreement required the liquidator to adjudicate the BPB and RHPUT claims in the manner envisaged by section 49 of the Bankruptcy (Scotland) Act 1985, which included acknowledging the BPB decree. The defenders, by their conduct in the appeal process and failure to object timeously, are personally barred from challenging the adjudication now. The liquidator's decision stands and the defenders are liable for the adjudicated sums.

Court Disposition

Decree granted for the pursuers for the adjudicated sums.

Orders

  • Sustain pursuers’ pleas-in-law in the minute for decree
  • Repel defenders’ pleas-in-law