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: Current AwarenessIn re Airbase (UK) Ltd; In re Airbase International Services Ltd - WLR Daily
By sally
“The provisions of s 176A of the Insolvency Act 1986, which dealt with floating charges relating to property of a company that was, inter alia, in administration, excluded from participation in any distribution from the ‘prescribed part’ of a company?s net property, as defined in s 176A(6) of the Act, secured creditors who had unsecured debts due to a shortfall in the value of their security.”
WLR Daily, 6th February 2008
Source: www.lawreports.co.uk
Please note once a case has been fully reported in one of the ICLR series the corresponding WLR Daily summary is removed.
Full post as published by Current Awareness on February 07, 2008 (boomark / email).
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