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UK restructuring and insolvency weekly: corporate and personal case law, litigation funding notes, property insolvency, FCA guidance consultation, Companies House fee increases (11 April 2024)

Published on: 11 April 2024

Published by a LexisNexis Restructuring & Insolvency expert
Legal News
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In this issue:

  • Corporate insolvency processes
  • Personal insolvency
  • Insolvency litigation
  • Property insolvency
  • Daily and weekly news alerts
  • Key dates for R&I professionals
  • New content

Corporate insolvency processes

No triable issue raised over settlement reached by former director (Re Windrush Alliance UK CIC)

The court found that Windrush Alliance UK CIC (the company), a social housing provider, failed to show a real and substantial dispute capable of justifying the setting aside or striking out of the winding-up petition brought against it. The core concern was that the current directors appeared to be bound by a settlement agreement concluded by a former director. Complaints about that director’s conduct, and any contraventions of the regulatory regime attaching to the business, were irrelevant to the question to be determined at the hearing of the petition. There was no reason to reopen the settlement’s terms; a restriction in the company’s Articles of Association did not undermine its validity; and the evidence said to support fraud was far too slight to raise a substantial dispute. Accordingly, there was no triable issue warranting interference with the petition...

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