The Law Reports (Chancery Division)
[2006] Ch 610
Court of Appeal
In re
SSSL Realisations (2002) Ltd (in liquidation)
In re
Save Group plc (in liquidation)
[2006] EWCA Civ 7
2005 July 18,
19,
20,
21;
2006 Jan 18
2006 Jan 18
Chadwick, Jonathan Parker LJJ and Etherton J
Insolvency
— Winding up
— Proof in liquidation
— Inter-company debts
— Applications by liquidators of companies in group
— Effect of debt postponement agreement between companies and third party
— Agreement requiring companies to indemnify third party in priority to own inter-company claims in event of insolvency
— Whether company liquidators entitled to disclaim agreement as “onerous property”
— Rule preventing person sharing in fund while his debts to fund unpaid
— Whether applying to competing claims between liquidators of companies where set-off precluded by rule against double proof
—
Insolvency Act 1986 (c 45), s. 178(3)(a)