Will Gunston

Jun 24, 2024 | mondaq.com | Sam Furse |Claire Bundy |Nigel Boobier |Will Gunston

Osborne Clarke recently advised the administrators in two reported High Court cases which have confirmed that a "secured creditor" under section 248 of the Insolvency Act 1986 should be construed in the present tense, retaining the status of secured creditor only if it is still owed a debt by the company in administration.

Jun 21, 2024 | lexology.com | Sam Furse |Claire Bundy |Nigel Boobier |Will Gunston |Douglas Hawthorn |Aisling Connaughton | +1 more

Consent of secured creditors with no remaining economic interest is not needed to extend the administration of a companyOsborne Clarke recently advised the administrators in two reported High Court cases which have confirmed that a "secured creditor" under section 248 of the Insolvency Act 1986 should be construed in the present tense, retaining the status of secured creditor only if it is still owed a debt by the company in administration.