Company resists administration

Abigail appeared for a company at a hearing and successfully resisted an application to put it into administration.  The case was heard in the Insolvency and Companies Court (Chancery Division), Business and Property Courts, Rolls Building. Abigail had advised the company on how it should show the Court that it was solvent, operated a profitable business, and remained in good financial standing.     

Abigail also defended the company’s interests when the Court analysed if the conditions of s.859M(3) of the Companies Act 2006 were met. Abigail persuaded the Court that information the company had filed [concerning a fixed and floating charge created in favour of the investment funder] was accidental or due to inadvertence – rather than some other cause. The question was whether it was just and equitable to grant relief.

The Court ordered the company to make a contribution of only 20% of the Applicant’s costs of conducting the hearing (agreed or assessed on the standard basis).

Abigail is the Deputy Chair of Chambers’ Business Crime & Investigations Practice Team. Jon Lennon KC is the Chair.