*/
Company – Insolvency. The proceedings concerned a company (the company) in creditors' voluntary liquidation. The applicant creditor of the company applied for an order, under r 4.70(2) of the Insolvency Rules 1986, SI 1986/1925, varying or setting aside the decision of the first respondent liquidator and chairman at a meeting of the company's creditors to admit the applicant as a creditor for voting purposes for a lower sum than the applicant contended should have been admitted, with the result that a resolution for the appointment of a joint administrator was defeated. The Companies Court, in allowing the application, held that S had erred in treating a liquidated claim (the moiety) as an unliquidated claim and in the application of the Rules. The moiety claim was a provable debt under the Rules and the applicant had, on the evidence, established its claim. It had not been open to the respondents to use a sum by way of set off against the moiety claim.
Company – Insolvency. The proceedings concerned a company (the company) in creditors' voluntary liquidation. The applicant creditor of the company applied for an order, under r 4.70(2) of the Insolvency Rules 1986, SI 1986/1925, varying or setting aside the decision of the first respondent liquidator and chairman at a meeting of the company's creditors to admit the applicant as a creditor for voting purposes for a lower sum than the applicant contended should have been admitted, with the result that a resolution for the appointment of a joint administrator was defeated. The Companies Court, in allowing the application, held that S had erred in treating a liquidated claim (the moiety) as an unliquidated claim and in the application of the Rules. The moiety claim was a provable debt under the Rules and the applicant had, on the evidence, established its claim. It had not been open to the respondents to use a sum by way of set off against the moiety claim.
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