Game on: tackling the impact of Game – a look at the Clinton Cards liquidation

In this article, Catherine Shuttleworth and Sally Lynch from Freshfields look at the decision in Game and the Clinton Cards liquidation. The main points arising from this article arcri_2016_vol9_issue4_aug_ofce as follows:

  • The decision in Game had retrospective effect giving rise to additional administration expenses where insolvency officeholders had already paid rent on the basis of Goldacre
  • ––For Clinton Cards, the entities were in liquidation by the time of Game, but the statutory charge in respect of administration expenses continued to apply to the assets of the estates in the hands of the liquidators
  • ––The Clinton Cards liquidators assessed whether any additional rent was payable as administration expenses and wrote to affected landlords three times inviting claims, but many landlords did not respond
  • ––On the application of the Clinton Cards liquidators, the court set a ‘bar date’, giving the liquidators leave to distribute assets to unsecured creditors if the remaining affected landlords still failed to claim by a specified deadline

Click here to read the full article.

 

Filed Under: CRI

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