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''Re Atlantic Computer Systems plc (No 1)'' EWCA Civ 20
is a 990
EWCA Civ 20
is a UK insolvency law case concerning the administration procedure when a company is unable to repay its debts.


Facts

Atlantic Computer Systems plc, recently taken over by British and Commonwealth Holdings">Atlantic Computers">Atlantic Computer Systems plc, recently taken over by British and Commonwealth Holdings, had hired a set of computers. It went into insolvency. The company lending the computers attempted to repossess them. The administrators argued this was impermissible.


Judgment

The Court of Appeal held that the computers could not be repossessed directly. The landlords and hire purchase sellers could not get money as an expense of administrative receivership either, because ‘the lessor or owner of goods has his remedies.’ Nicholls LJ gave guidance on exercising security rights against companies in administration. Referring to the old s 11, he said the following.
992 Year 992 ( CMXCII) was a leap year starting on Friday (link will display the full calendar) of the Julian calendar. Events By place Worldwide * Winter – A superflare from the sun causes an Aurora Borealis, with visibility as fa ...
Ch 505, 541-4


See also

* UK insolvency law *'' Soden v British and Commonwealth Holdings plc''
998 Year 998 ( CMXCVIII) was a common year starting on Saturday (link will display the full calendar) of the Julian calendar. Events By place Europe * Spring – Otto III retakes Rome and restores power in the papal city. Crescenti ...
AC 298, misrepresentation claims of shareholders were not the same as claims by shareholders, and so not subordinated to the claims of other creditors.


Notes

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References

*L Sealy and S Worthington, ''Cases and Materials in Company Law'' (9th edn OUP 2010) *R Goode, ''Principles of Corporate Insolvency Law'' (4th edn Sweet & Maxwell 2011) United Kingdom insolvency case law 1990 in United Kingdom case law Court of Appeal (England and Wales) cases