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BNY Corporate Trustee Services Ltd v Eurosail-UK 2007-3BL plc

Subject Matter

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, s 123(1)(e)(2)

[2010] EWHC 2005 (Ch); [2011] 1 WLR 1200; [2010] Bus LR 1731; [2011] 3 All ER 470; [2010] WLR (D) 223, Ch D

[2011] EWCA Civ 227; [2011] 1 WLR 2524; [2011] Bus LR 1359; [2011] 3 All ER 470; [2011] WLR (D) 73, CA

[2013] UKSC 28; [2013] 1 WLR 1408; [2013] Bus LR 715; [2013] 3 All ER 271; [2013] 2 All ER (Comm) 531; Case details, SC(E)

Appellate History

BNY Corporate Trustee Services Ltd v Eurosail-UK 2007-3BL plc [2010] EWHC 2005 (Ch); [2011] 1 WLR 1200; [2010] Bus LR 1731; [2011] 3 All ER 470; [2010] WLR (D) 223, Ch D

Decision of Sir Andrew Morritt C affirmed

BNY Corporate Trustee Services Ltd v Eurosail-UK 2007-3BL plc [2011] EWCA Civ 227; [2011] 1 WLR 2524; [2011] Bus LR 1359; [2011] 3 All ER 470; [2011] WLR (D) 73, CA

BNY Corporate Trustee Services Ltd v Eurosail-UK 2007-3BL plc [2011] EWCA Civ 227; [2011] 1 WLR 2524; [2011] Bus LR 1359; [2011] 3 All ER 470; [2011] WLR (D) 73, CA

Decision of the Court of Appeal affirmed

BNY Corporate Trustee Services Ltd v Eurosail-UK 2007-3BL plc [2013] UKSC 28; [2013] 1 WLR 1408; [2013] Bus LR 715; [2013] 3 All ER 271; [2013] 2 All ER (Comm) 531; Case details, SC(E)

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