The Weekly Law Reports
[2011] 1 WLR 2524
Court of Appeal
*BNY Corporate Trustee Services Ltd v Eurosail-UK 2007-3BL plc and others
[2011] EWCA Civ 227
2011 Jan 25,
26,
28;
March 7
Lord Neuberger of Abbotsbury MR, Wilson, Toulson LJJ
Insolvency— Winding up— Company’s debts— Company deemed “unable to pay its debts” where its assets exceeded by liabilities “taking into account its contingent and prospective liabilities”— Whether prospective liabilities to be taken into account at face value irrespective of maturity date or rate of interest payable in meantime— Whether company unable to pay debts—
Insolvency Act 1986 (c 45), s 123(2)