Re Cancol Ltd
Re Cancol Ltd
- 1996
- All England Law Reports 1996 1 ALLER 37-54(18) .
ChD 4 October 1995. Declaration by creditor landlord sought that a company voluntary arrangement as opposed to an individual voluntary arrangement under the Insolvency Act 1986 could not bind individuals entitled to future or contingently payable debts. Respondent company C proposed surrendering the lease and negotiating claims for damages for failing to honour terms of lease stating that claims for future rent would only be claimable on a voluntary arrangement. Landlord failed to attend creditors meeting. Landlord declared a creditor fulfilling the conditions of r1.17(1) and 3 of the Insolvency Rules 1986 and therefore by Insolvency Act 1986 s5 was bound to a company voluntary arrangement approved at a creditors meeting which he was entitled to vote at. Application dismissed.
CREDITORS MEETING
INSOLVENCY ACT 1986
VOLUNTARY ARRANGEMENTS
ChD 4 October 1995. Declaration by creditor landlord sought that a company voluntary arrangement as opposed to an individual voluntary arrangement under the Insolvency Act 1986 could not bind individuals entitled to future or contingently payable debts. Respondent company C proposed surrendering the lease and negotiating claims for damages for failing to honour terms of lease stating that claims for future rent would only be claimable on a voluntary arrangement. Landlord failed to attend creditors meeting. Landlord declared a creditor fulfilling the conditions of r1.17(1) and 3 of the Insolvency Rules 1986 and therefore by Insolvency Act 1986 s5 was bound to a company voluntary arrangement approved at a creditors meeting which he was entitled to vote at. Application dismissed.
CREDITORS MEETING
INSOLVENCY ACT 1986
VOLUNTARY ARRANGEMENTS