Doorbar v Alltime Securities Ltd
Doorbar v Alltime Securities Ltd
- 1996
- All England Law Reports (1996) 2 All ER 948-960(5) .
CA 30 November 1995. The debtor (D) submitted a proposal for a voluntary arrangement of his affairs to the creditor (A). The chairman of the creditors meeting (X) put an estimated value of one years rent on the future liabilities under the lease. A did not agree with X`s valuation. The meeting approved the scheme and X then applied for a declaration that the scheme did not include future rent and for revocation of the approval of the scheme under the Insolvency Act 1986 s262(1). X`s applicaiton was granted but the decision was reversed on D`s application. "Held" since X had placed an estimeated value on the future liabilities, A was bound by the arrangement in respect of future rent. Appeal dismissed.
DOORBAR V ALLTIME SECURITIES LTD
FUTURE LIABILITY
FUTURE RENT
INSOLVENCY ACT 1986 S262(1)
Insolvency
CA 30 November 1995. The debtor (D) submitted a proposal for a voluntary arrangement of his affairs to the creditor (A). The chairman of the creditors meeting (X) put an estimated value of one years rent on the future liabilities under the lease. A did not agree with X`s valuation. The meeting approved the scheme and X then applied for a declaration that the scheme did not include future rent and for revocation of the approval of the scheme under the Insolvency Act 1986 s262(1). X`s applicaiton was granted but the decision was reversed on D`s application. "Held" since X had placed an estimeated value on the future liabilities, A was bound by the arrangement in respect of future rent. Appeal dismissed.
DOORBAR V ALLTIME SECURITIES LTD
FUTURE LIABILITY
FUTURE RENT
INSOLVENCY ACT 1986 S262(1)
Insolvency