Ground breaking decision in the High Court

Follett Stock has been involved in a ground breaking decision in the High Court.  Chris Lingard and Marianne Perkins of 13 Old Square secured a significant victory for the directors of Professional Computer Group Limited recently. 

PCGL had applied to the High Court for an Administration Order seeking the appointment of Moira Fitzpatrick of (MCF Business Rescue and Insolvency) as Administrator.   The application was opposed by one of the creditors represented by Pitmans of Reading.  For the first time (unless you know differently) the Court ordered that the costs incurred by the company in dealing with the creditor’s opposition to the application should be paid by that creditor and that its own costs should not be a cost in the Administration. 

In the insolvency world – this passes as exciting! 

For more information on any issue relating to Personal or Corporate Insolvency email chris.lingard@follettstock.co.uk.