Russell Crumpler & Anr (as joint liquidators of Peak Hotels and Resorts Limited) v. CANDEY Limited - chancery division, companies court - July 2017
The joint liquidators (KPMG) sought to avoid making payment to CANDEY by contending that their security was ineffective. The matter was brought in London pursuant to the insolvency cross-border regulations and following the judgment of HHJ Malcolm Davis-White QC has made new law on the value of legal services and Section 245 (6) of the Insolvency Act 1986. CANDEY were successful in the proceedings with the Court finding that CANDEY had a floating charge over $12 million in funds in Court and a further $1.5 million recovered from Standard Chartered Bank.
KPMG have appealed to the Court of Appeal.
[2017] EWHC 1511 (Ch).
