Permission to appeal hearing (Promontoria (Chestnut) Limited v Craig and anor)

Permission to appeal hearing (Promontoria (Chestnut) Limited v Craig and anor)

Kirsten Fleming of Addleshaw Goddard examines the administrator’s application for permission to appeal the earlier judgment. Permission was refused by the Court of Appeal who will not generally interfere with the discretion of the judge of a lower court. In this case the Court of Appeal reaffirmed the balancing act set out in Re Atlantic Computers. For analysis of the judgement of the High Court, click here.

Promontoria (Chestnut) Limited v Craig and anor [2017] EWHC 2405 (Ch)

What are the practical implications of this case?

Practitioners should note that the Court of Appeal will not generally interfere with the exercise of discretion by a judge of the lower court, having examined in judgment all of the available evidence. The decision of the Court of Appeal effectively reaffirmed the correct approach of the judge in the lower court of carrying out a balancing act per Re Atlantic Computers [1992] Ch 505, [1992] 1 All ER 476.

What was the background?

The judgment in Promontoria (Chestnut) Ltd v Craig and another [2017] EWHC 2405 (Ch) in October 2017 found against the administrators in seeking control of certain secured assets, and underlined the importance of consulting with secured creditors and the need to obtain reliable

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About the author:

Anna joined the Restructuring and Insolvency team at Lexis®PSL in August 2013 from Berwin Leighton Paisner where she was a senior associate in the Restructuring Team.

Anna has worked on a number of large scale restructurings primarily in the UK market acting on behalf of lending institutions.

Recent transactions include the restructuring of a UK hotel chain and the administration sale of part of the Connaught group. Anna has also spent time on secondment at The Royal Bank of Scotland and trained at Clifford Chance qualifying in 2007.