Director's application for administration refused where other directors considered business was viable

This was a sole director’s application for administration under paragraph 12 of Schedule B1 to the Insolvency Act 1986.

Subsequently, two shareholders had used their powers in the shareholder agreement to appoint themselves as directors. They opposed the administration application on the basis that the company had sufficient business to continue to trade solvently.

The administration application was refused. The court had limited information regarding the company’s solvency and could not reach a firm view on it…

If you are registered and logged in to the site, click on the link below to read the rest of the Taylor Wessing briefing. If not, please register or sign in with your details below.

Briefings from Taylor Wessing

View more briefings from Taylor Wessing

Analysis from The Lawyer

  • merger deal

    Corporate crunch time: who will triumph at The Lawyer Awards 2014?

    As the equity capital markets rocketed back into favour and global M&A saw at least a partial return to form, there have been some rich pickings for The Lawyer’s Corporate Team of the Year award shortlisted firms in 2014. 

  • singapore orchid

    Singapore: Cash course

    The city-state is working hard to become a global wealth management hub, and law firms are gearing up for a prosperous new world

View more analysis from The Lawyer


5 New Street Square

Turnover (£m): 228.00
No. of lawyers: 860
Jurisdiction: UK
No. of offices: 4
No. of qualified lawyers: 67 (International 50)