Friday, 14 May 2010

In re Frankice (Golders Green) Ltd and others ; [2010] WLR (D) 118 - Insolvency Act 1986, Sch B1, para 43(6)

Mr Justice Norris (pictured) has handed down his judgment in In re Frankice (Golders Green) Ltd and others; [2010] WLR (D) 118, in which he held that, "The words “legal process” in para 43(6) of Sch B1 to the Insolvency Act 1986 meant something with a defined beginning and an ascertainable outcome, involving the compulsive power of the law, which, in the interim, was governed by a recognisable procedure which was legal or quasi-legal in nature." Mr Justice Norris was considering whether regulatory proceedings initiated by the Gambling Commission fell within the moratorium under para 43 of Sch B1 to the 1986 Act.

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