D - Distributions
15/7/20
The court authorised administrators to consent to a proposal by the company’s directors that the company should distribute surplus funds to its shareholder (also a company in administration). It was sufficient that the court was satisfied that the administrators were performing their functions with the overall objective of rescuing the company as a going concern. It was not necessary that making the distributions would of itself cause, or specifically promote, the company’s rescue.
27/8/15
RE NORTEL NETWORKS UK LIMITED [2015] EWHC 2506 (Ch)
Considers the basis on which directions should be given under para 65(3) of Sch B1 of the Insolvency Act 1986, permitting administrators to declare dividends to unsecured non-preferential creditors on an interim basis.
© Copyright 2015 Neil Levy All Rights Reserved. Disclaimer