Spicer & Ors, Re [2011] ScotCS CSOH_87 (17 May 2011)

Spicer & Ors, Re [2011] ScotCS CSOH_87 (17 May 2011)

The former liquidators breached Rule 4.21(2) by withholding assets, but since the breach was committed in good faith on legal advice and interest was paid on the withheld sum, no reduction in remuneration is warranted; any further claims for loss should be pursued under s.212 of the Insolvency Act 1986.

Source-derived case information.

Citation
[2011] ScotCS CSOH_87
Parties
Noter: Anthony Cliff Spicer; Noter: Stephen Robert Cork; Respondent: Annette Menzies; Respondent: Eileen Lightbrown
Jurisdiction
Scotland
Judgment Date
17 May 2011
Procedural Posture
Liquidation Remuneration Dispute / Post Removal of Liquidators, Determination of Remuneration
Outcome
No reduction in remuneration; case put out By Order for interlocutor.
Legal Topics
Liquidator Remuneration, Right of Retention, Breach of Statutory Duty
Insolvency Company Law Liquidator Remuneration Right of Retention Breach of Statutory Duty

Source-derived case record

Summary, issues, holding and outcome

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Parties

Anthony Cliff Spicer

Noter

Stephen Robert Cork

Noter

Annette Menzies

Respondent

Eileen Lightbrown

Respondent

Procedural Posture

Liquidation Remuneration Dispute / Post Removal of Liquidators, Determination of Remuneration

Legal Issues

  1. 1 Whether former liquidators breached Rule 4.21(2) by withholding assets
  2. 2 Whether court can reduce remuneration as sanction for breach

Ratio Decidendi

The former liquidators breached Rule 4.21(2) by withholding assets, but since the breach was committed in good faith on legal advice and interest was paid on the withheld sum, no reduction in remuneration is warranted; any further claims for loss should be pursued under s.212 of the Insolvency Act 1986.

Court Disposition

No reduction in remuneration; case put out By Order for interlocutor.

Orders

  • Remuneration recommended by Reporter and Auditor to be paid without deduction for breach.
  • Further claims for loss to be pursued under s.212 of the Insolvency Act 1986 if desired.