Company

The Chancery Division ruled on consequential matters following its main judgment on claims brought against Sequana SA and others, challenging dividend payments. In respect of the second claim, the court held that, in circumstances where the claimant (BAT) had succeeded in part on its claim, under s 423 of the Insolvency Act 1986 (transfers defrauding creditors), it would be wrong to treat an agreement, entered into following the main judgment, as a change of circumstance, which militated against the grant of any relief to BAT, under s 423. Accordingly, BAT was granted relief, under s 423 of the Act, in the form it proposed.