- Objection to administrator discharge due to Chapter 11 plan (Re Paragon Offshore)
- What are the practical implications of this case?
- What was the background?
- What did the court decide?
- Case details
Restructuring & Insolvency analysis: In Re Paragon Offshore, Deputy Insolvency and Companies Court (ICC) Judge Agnello QC held that there was nothing in the objections raised to the former administrators’ application for discharge. The case also illustrates the due deference that English courts will give to US Chapter 11 proceedings and findings made by American judges. This case also reiterates the generally high threshold that applies with regard to challenges to officeholder conduct, and the need to particularise allegations of fraud with care. The significant costs order made against the unsuccessful litigant in person, Mr Hammersley, should come as a salutary reminder to those considering whether to raise such objections, even if the proposed objections may be more meritorious than those raised by Mr Hammersley in this matter. Written by Samuel Parsons, barrister at Guildhall Chambers, Bristol.
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