Re Transbus International Ltd

Re Transbus International Ltd

Court	High Court of Justice
Citation(s)	[2004] EWHC 932, Ch, [2004] 2 All ER 911
Keywords
Insolvency

Re Transbus International Ltd [2004] EWHC 932 (Ch) is a UK insolvency law case, concerning the discretion of an administrator to trade with a company's assets.

Facts

The administrators of Transbus International Ltd applied to the court under IA 1986 Sch B1, para 63 for directions about whether or not they could effect a sale of the business.

Judgment

Lawrence Collins J held the administrator can act without creditor approval or court approval, if he thinks it in the best interest of creditors.

“

14. There will be many cases where the administrators are justified in not laying any proposals before a meeting of creditors. This is so where they conclude that the unsecured creditors are either likely to be paid in full, or to receive no payment, or where neither of the first two objectives for the administration can be achieved: see para.52 of the Schedule. If, in such administrations, administrators were prevented from acting without the direction of the court it would mean that they would have to seek the directions of the court before carrying out any function throughout the whole of the administration. The Enterprise Act 2002 reflects a conscious policy to reduce the involvement of the court in administrations, where possible.

”

Administration cases

Insolvency Act 1986 Sch B1

Re Harris Simons Construction Ltd [1989] 1 WLR 368

Re Charnley Davies Ltd (No 2) [1990] BCLC 760

Kyrris v Oldham [2003] EWCA Civ 1506

Re Atlantic Computer Systems (No 1) [1992] Ch 505

Powdrill v Watson [1995] 2 AC 394

Downsview Nominees Ltd v First City Corp Ltd [1992] UKPC 34

Medforth v Blake [1999] EWCA Civ 1482

Re Kayley Vending Ltd [2009] EWHC 904 (Ch)

HMRC v Maxwell [2010] EWCA Civ 1379

see UK insolvency law

UK insolvency law

Notes

References

External links

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