Hood v Revenue and Customs Commissioners | Three Stone

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Hood v Revenue and Customs Commissioners | Three Stone

In Derek Thomas Hood v The Commissioners for Her Majesty’s Revenue and Customs v JD Classics Limited (In Administration) [2019] EWHC 2236 (Ch), 2019 the court held that in a validation application pursuant to s.284 of the Insolvency Act 1986 (“the Act”) only debts satisfying the requirements and conditions of ss. 267 and 268 of the Act fall to be considered on the issue of solvency required by Practice Direction, Insolvency Proceedings [2018] B.C.C. 241.

Consequently the court correctly concluded that creditors who may be able to prove in the bankruptcy, but cannot satisfy the requirements and conditions of sections 267 and 268, has no standing to oppose a validation application.

The court further confirmed that only creditors who can satisfy the requirements and conditions of ss. 267 and 268 can take carriage of a petition.

Francis Collaço Moraes

fmoraes@threestone.law