The Weekly Law Reports
[2013] 1 WLR 1408
Supreme Court
*BNY Corporate Trustee Services Ltd v Eurosail-UK 2007-3BL plc and others
[2013] UKSC 28
2013 Feb 25,
26;
May 9
Lord Hope of Craighead DPSC, Lord Mance, Lord Sumption, Lord Carnwath JJSC, Lord Walker of Gestingthorpe
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(1)(e)(2)