TL4 FIRE Magazine: In the Court’s Control of Office-Holders
This year has seen a development in insolvency law that will be welcome to every insolvency practitioner (IP): a further tightening of the already restrictive circumstances in which the court will intervene under the Insolvency Act 1986 (IA 1986) to control the decisions of office-holders. Two landmark decisions were decided, both arising out of the bankruptcies of a Mr and Mrs Brake: Patley Wood Farm LLP v Kicks in the Court of Appeal (Patley Wood) and Brake v Chedington Court Estate Ltd in the Supreme Court (Chedington).
Any impression that the courts might be willing to consider a slightly more relaxed interpretation of these provisions has been decisively rejected by these two decisions.
Read Alaric Watson’s full article here.
First published in Issue 15 of the TL4 FIRE Magazine.
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