''Re Barleycorn Enterprises Ltd''
970
Year 970 (Roman numerals, CMLXX) was a common year starting on Saturday (link will display the full calendar) of the Julian calendar, the 970th year of the Common Era (CE) and ''Anno Domini'' designations, the 970th year of the 1st millennium, ...
Ch 465 is a
UK insolvency law case, concerning the priority of creditors in a company
winding up. It was held that fees for liquidation came in priority to
preferential claims and
floating charges. This was overturned by the House of Lords in ''
Buchler v Talbot'', but reinstated by Parliament through an amendment to the
Insolvency Act 1986 s 176ZA.
Facts
Barleycorn Enterprises Ltd had been put into compulsory winding up. The directors had employed Cardiff based chartered accountants, Mathias and Davies, to prepare a financial statement for the company. Their fee was £202 10s, and were approved by the official receiver.
However, the company liquidator argued that the accountants should only be paid after preferential creditors and debenture holders. In this case, there was no money left. The judge at first instance,
Sir Owen Temple Morris QC, held that the accountants had priority. The liquidator appealed.
Judgment
The Court of Appeal held that the accountants' fees fell under the expenses of liquidation.
Tom Denning, Baron Denning gave the first judgment.
Sachs LJ concurred.
Phillimore LJ agreed.
See also
*''
Buchler v Talbot''
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* 004, fictional British 00 Agent
* 0O4, Corning Municipal Airport (California)
* O04, the Oversea-Chinese Banking Corporation
* Abdul Haq Wasiq, Guantanamo detainee 004
* Junkers Jumo 004 turbojet engine
* Lauda ...
UKHL 9,
004 004, 0O4, O04, OO4 may refer to:
* 004, fictional British 00 Agent
* 0O4, Corning Municipal Airport (California)
* O04, the Oversea-Chinese Banking Corporation
* Abdul Haq Wasiq, Guantanamo detainee 004
* Junkers Jumo 004 turbojet engine
* Lauda ...
2 AC 298
*
Insolvency Act 1986 s 176ZA
*''
Re MC Bacon Ltd (No 2)
''Re MC Bacon Ltd'' 991Ch 127 is a UK insolvency law case relating specifically to the recovery the legal costs of the liquidator in relation to an application to set aside a floating charge as an unfair preference.
The court held that becaus ...
''
991
Year 991 (Roman numerals, CMXCI) was a common year starting on Thursday (link will display the full calendar) of the Julian calendar.
Events
* March 1: In Rouen, Pope John XV ratifies the first Peace and Truce of God, Truce of God, between ...
Ch 127
Notes
{{reflist, 2
References
*'Recent developments in the law and practice relating to the creation of security for companies' indebtedness' (2009) 30(6) Company Lawyer 163-168
*'What liquidation does for secured creditors, and what it does for you' (2008) 71(5) MLR 699-733
United Kingdom company case law
United Kingdom insolvency case law
Court of Appeal (England and Wales) cases
1970 in United Kingdom case law
Lord Denning cases