Hearings
England & Wales
06 Nov 2006 [2006] EWHC 2813 (Ch); [2007] Bus LR 474, Ch D
29 Nov 2007 [2007] EWCA Civ 1262; [2008] Bus LR 1213, CA
Customs and Excise Comrs v Royal Bank of Scotland plc
Additional names
Oval 1742 Ltd, In re
Subject Matter
COMPANY — Debenture — Fixed or floating charge — Company selling business and assets — Company subsequently going into liquidation — Consideration for assets paid to debenture holder both before and after date of liquidation — Company's solicitors making undertakings to debenture holder in relation to payments — Debenture holder releasing charge after receiving payment — Whether preferential creditors payable in priority to debenture holder — Whether payments subject to floating charge — Whether debenture holder “taking possession” of property comprised in charge — Companies Act 1985, s 196 (as substituted by Insolvency Act 1986, s 439(1), Sch 13, Pt I) — Insolvency Act 1986, s 175
Appellate History
Customs and Excise Comrs v Royal Bank of Scotland plc [2006] EWHC 2813 (Ch); [2007] Bus LR 474, Ch D
Decision of Susan Prevezer QC sitting as a deputy High Court judge affirmed
Customs and Excise Comrs v Royal Bank of Scotland plc [2007] EWCA Civ 1262; [2008] Bus LR 1213, CA