Jurisdiction(s):
United Kingdom

Re Kession Capital: Administration ended for lack of statutory purpose; compulsory winding up ordered; creditor opposition and IR 2016 voting errors decisive (England & Wales)

Published on: 15 April 2026

Published by a LexisNexis Restructuring & Insolvency expert

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Article summary

Hinton and another (as joint administrators of Kession Capital Ltd) v KVB Consultants Ltd (Company Number 08723839) and others [2026] EWHC 785 (Ch)

What was the background?

Kession Capital Ltd’s joint administrators (the company being in administration) sought directions from the High Court, before Deputy ICC Judge Curl KC, invoking IA 1986, Sch B1, paras 53, 55 and 63. The step followed creditors’ rejection of proposals put forward under IA 1986, Sch B1, para 49(1). They asked the court to ‘hold the ring’ by keeping the company in administration until a Supreme Court appeal on another issue was determined, with a further meeting of creditors thereafter. Twenty‑six unconnected judgment creditors opposed the application. When administration commenced, the company was insolvent and not trading. Its move into administration came after enforcement action by a substantial judgment creditor, Mr Venkiteswaran. The administrators’ proposals adopted the objective in IA 1986, Sch B1, para 3(1)(c)—realisation for distribution to secured or preferential creditors—relying upon a preferential claim of £800 owed to the director and majority shareholder, albeit in his capacity as an employee...

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