Green -v- Gigi Brooks Limited
This was an application for an administration order by a former director and alleged creditor of the company. The applicant had been excluded from the business by her fellow director. From the facts it appears that the company was a start-up and that its business plan did not anticipate it making a profit for some time.
However, the High Court found that there was little evidence of insolvency or any likelihood of an administration being able to achieve its statutory purpose. The Judge decided not to grant the administration order commenting that to do so would go against the wishes of the company and its major creditor.
For further information contact Nigel, Cook on 01306 502294 or by email n.cook@downslaw.co.uk.
