Q&As

A liquidator has agreed to pursue a mis-selling claim on behalf of a company in liquidation which will be funded by the directors personally. In the proceedings, the list of documents was erroneously signed by the directors rather than the liquidator (although the liquidator had approved the list). What are the effects of this error?

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Published on LexisPSL on 24/10/2016

The following Restructuring & Insolvency Q&A provides comprehensive and up to date legal information covering:

  • A liquidator has agreed to pursue a mis-selling claim on behalf of a company in liquidation which will be funded by the directors personally. In the proceedings, the list of documents was erroneously signed by the directors rather than the liquidator (although the liquidator had approved the list). What are the effects of this error?
  • Disclosure statement
  • Appropriate person
  • Incorrect signing
  • Correcting error

A liquidator has agreed to pursue a mis-selling claim on behalf of a company in liquidation which will be funded by the directors personally. In the proceedings, the list of documents was erroneously signed by the directors rather than the liquidator (although the liquidator had approved the list). What are the effects of this error?

STOP PRESS: From 6 April 2017, the Insolvency Rules 1986, SI 1986/1925 were revoked and replaced by the Insolvency (England and Wales) Rules 2016 (IR 2016), SI 2016/1024. The content in this Q&A may have been affected by this change.

Disclosure statement

The list of documents prepared for disclosure must contain a disclosure statement, the wording of which is set out in Form N265 and Form N265 (CC) with some guidance from the CPR in the Annex to CPR PD 31A. It includes reference to searching for electronic documents. If you are not using the forms you must adapt the wording accordingly.

The disclosure statement should be signed by the client. Unless and until the cause of action is assigned by the company acting by the liquidator, the company is the proper claimant.

The Supreme Court in Apex was clear, although it was not required to decide the point, that the standard form of disclosure by a party does require personal signing by the party (rather than his solicitor, for example), unless there are

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