- Court of Appeal revisits principles governing restoration of formerly liquidated companies (Fakhry v Pagden)
- What are the practical implications of this case?
- What was the background?
- What did the court decide?
- The role of former members
- The role of former liquidators
- Case details
Restructuring & Insolvency analysis: The Court of Appeal held that a company dissolved following a members’ voluntary liquidation (MVL) should not be restored to the register on the application of a minority member without first considering the views of the majority. This is one of the first decisions concerning the rarely litigated issue of the control of solvent companies during and after the MVL process. From a practical perspective, the decision provides important guidance to those advising applicants seeking to restore formerly liquidated companies to the register—the Court of Appeal clarified that the practice of the court requires that a company’s former liquidators be joined as respondents to and given notice of the restoration application. Written by Paul Wright, barrister, at 9 Stone Buildings.
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