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Administrators’ decision to remove receivers was unreasonable (Promontoria (Chestnut) Ltd v Craig and another)

Administrators’ decision to remove receivers was unreasonable (Promontoria (Chestnut) Ltd v Craig and another)
Published on: 08 March 2018
Published by: LexisPSL
  • Administrators’ decision to remove receivers was unreasonable (Promontoria (Chestnut) Ltd v Craig and another)
  • What are the practical implications of this case?
  • What was the background?
  • What did the court decide?

Article summary

Restructuring & Insolvency analysis: Jamie Riley, barrister at Littleton Chambers, considers the practical implications of the judgment in Promontoria, which underlines the importance of consulting with secured creditors and the need to obtain reliable evidence of the value of the security assets in assessing whether control of the assets is necessary to achieve the purpose of the administration. or take a trial to read the full analysis.

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