Liability
of directors on company insolvency due to failed avoidance scheme
InHunt v Singh [2023] EWHC 1784 (Ch) (17 July) the court heard an appeal by the liquidator of a company against the order of an Insolvency and Companies Court (ICC) judge dismissing his claim against a former director in respect of the breach of his fiduciary duties to consider the interests of creditors.
Between 2002 and 2010 the company which provided management services to other group companies operated an employee benefit trust scheme. HMRC opened enquiries into the scheme as early as 2003 and offered a market-wide settlement opportunity to users of the scheme in 2005. The scheme was held to be ineffective in 2011 by the Court of Appeal in HMRC v PA Holdings Ltd [2011] EWCA Civ 141 following which the company was advised by counsel that its position...
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Liability
of directors on company insolvency due to failed avoidance scheme
InHunt v Singh [2023] EWHC 1784 (Ch) (17 July) the court heard an appeal by the liquidator of a company against the order of an Insolvency and Companies Court (ICC) judge dismissing his claim against a former director in respect of the breach of his fiduciary duties to consider the interests of creditors.
Between 2002 and 2010 the company which provided management services to other group companies operated an employee benefit trust scheme. HMRC opened enquiries into the scheme as early as 2003 and offered a market-wide settlement opportunity to users of the scheme in 2005. The scheme was held to be ineffective in 2011 by the Court of Appeal in HMRC v PA Holdings Ltd [2011] EWCA Civ 141 following which the company was advised by counsel that its position...
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If you do not subscribe but are a registered user, please enter your details in the following boxes:
