Johnson and another v Davies and another
Johnson and another v Davies and another
- 1998
- Estates Gazette Law Reports [1998] 49 EG 153-160(8) .
CA 18 March 1998. Appeal bought by the defendants D, against the decision that they were obligated to indemnify the plaintiffs. J were principal shareholders in a company before selling out to D and Mr Hopkins H. Subsequently the company was placed in receivership, and J satisfied the landlords claims, but sought reimbursement from D on the basis of a share sale agreement. The defendants contended that they were released from their obligation to indemnify due to a voluntary arrangement entered into by H which J voted in favour of. The judge ruled that the words used in the voluntary agreement were inconsistant with the intention to release the defendants from their liability as co-debtors. Held, appe£al dismissed.
INDEMNIFICATION CLAUSES
INSOLVENCY ACT 1986
INSOLVENCY VOLUNTARY ARRANGEMENT
JOHNSON AND ANOTHER V DAVIES AND ANOTHER
SHARE SALE AGREEMENT
SURETIES
CA 18 March 1998. Appeal bought by the defendants D, against the decision that they were obligated to indemnify the plaintiffs. J were principal shareholders in a company before selling out to D and Mr Hopkins H. Subsequently the company was placed in receivership, and J satisfied the landlords claims, but sought reimbursement from D on the basis of a share sale agreement. The defendants contended that they were released from their obligation to indemnify due to a voluntary arrangement entered into by H which J voted in favour of. The judge ruled that the words used in the voluntary agreement were inconsistant with the intention to release the defendants from their liability as co-debtors. Held, appe£al dismissed.
INDEMNIFICATION CLAUSES
INSOLVENCY ACT 1986
INSOLVENCY VOLUNTARY ARRANGEMENT
JOHNSON AND ANOTHER V DAVIES AND ANOTHER
SHARE SALE AGREEMENT
SURETIES