Ultimate Invoice Finance Ltd, Re MCC Building Services Ltd [2017] ScotCS CSOH_72 (03 May 2017)

Ultimate Invoice Finance Ltd, Re MCC Building Services Ltd [2017] ScotCS CSOH_72 (03 May 2017)

Requirements for appointment of an administrator are met; administration is preferable to liquidation. Ancillary matters regarding provisional liquidator's release, expenses, and remuneration are reserved for future determination. The court has jurisdiction to reserve these matters and will not prejudice third party rights.

Citation
[2017] ScotCS CSOH_72
Parties
Petitioner: Ultimate Invoice Finance Limited; Respondent: MCC Building Services Ltd
Jurisdiction
Scotland
Judgment Date
03 May 2017
Procedural Posture
Petition for Administration Order / Final Determination
Outcome
Administration order granted; ancillary matters reserved.
Legal Topics
Administration Order, Liquidation, Floating Charge, Priority of Expenses, Remuneration of Provisional Liquidator
Insolvency Company Law Administration Order Liquidation Floating Charge Priority of Expenses Remuneration of Provisional Liquidator

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Parties

Ultimate Invoice Finance Limited

Petitioner

MCC Building Services Ltd

Respondent

Procedural Posture

Petition for Administration Order / Final Determination

Legal Issues

  1. 1 Whether an administration order should be granted in respect of a company already in liquidation
  2. 2 Interaction between administration and liquidation proceedings
  3. 3 Priority and payment of provisional liquidator's expenses and remuneration

Ratio Decidendi

Requirements for appointment of an administrator are met; administration is preferable to liquidation. Ancillary matters regarding provisional liquidator's release, expenses, and remuneration are reserved for future determination. The court has jurisdiction to reserve these matters and will not prejudice third party rights.

Court Disposition

Administration order granted; ancillary matters reserved.

Orders

  • Administration order made in respect of MCC Building Services Ltd.
  • Liquidation proceedings dismissed; winding-up order discharged.