- Reservation of the right to pursue an insolvent company upon settlement with a co-defendant (Re A C Norton Ltd (in liquidation))
- What are the practical implications of this case?
- What was the background?
- What did the court decide?
- Case details
Restructuring & Insolvency analysis: An application by the liquidators of a company for directions pursuant to section 168(3) of the Insolvency Act 1986 (IA 1986) on whether a settlement reached between a creditor and the director of the company by acceptance of a Part 36 offer by the director also operated to release the company from liability in respect of the creditor’s claim. The court held that, in the circumstances, it did not so operate as the creditor had reserved the right to pursue the company at the time of the settlement. Written by Giselle McGowan, barrister at 9 Stone Buildings.
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