- Meaning of ‘contributory’ for the purpose of the old insolvency Rules (Burnden Group Holdings Ltd v Hunt)
- What are the potential implications of this case?
- What was the background?
- What did the court decide?
Restructuring & Insolvency analysis: The High Court held, in Burnden Group Holdings Ltd v Hunt, that ‘contributory’ was to be given a wide meaning and included members who held fully paid-up shares. However, as Mark Spackman of St Philips Chambers comments, the ruling is relevant only to cases brought under the Insolvency Rules 1986 (IR 1986) (ie before the new Insolvency (England and Wales) Rules 2016 (IR 2016) came into force).
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