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In Re Rosshill Properties Limited (in administration) (2003)

Summary

Company in administration; leave to enforce security

Facts

Held

The mortgagee was given leave to enforce its security under S11(3) of the Insolvency Act 1986, albeit that the security had been granted over the only asset of the company in administration and therefore made the continutation of the administration pointless.   The application for leave was opposed by the administrator and unsecured creditors

Chancery Division
Neuberger J
Judgment date
4 April 2003
References

LTL 25/11/2004 : (2004) BCC 973 : (2004) 2 BCLC 575