The Law Reports (Chancery Division)
[2013] Ch 506
Court of Appeal
In re Danka Business Systems plc (in members’ voluntary liquidation)
Ricoh Europe Holdings BV and others v Spratt and another
[2013] EWCA Civ 92
2012 Nov 7;
2013 Feb 19
Mummery, Patten, Treacy LJJ
Company— Winding up— Distribution of assets— Members’ voluntary liquidation— Liquidators serving notices on creditors proposing final distribution of company’s assets to creditors— Creditor having contingent claims against company in form of indemnities— Creditor requesting liquidators to defer distribution until contingent claims crystallising or to reserve assets to cover claims in full— Whether liquidators obliged to reserve assets to provide for contingent claims in full— Whether valuation of contingent claims under indemnity to guarantee 100% return on indemnity—
Insolvency Act 1986 (c 45), s 107
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Insolvency Rules 1986 (SI 1986/1925), r 4.86(1)