Insolvency

The Chancery Division, in granting a bank’s application to restore a company to the register of companies, ruled that, where the Crown disclaimed property vested in it following the dissolution of a company, that disclaimer, under s 1012 of the Companies Act 2006, was not a “disposition” of property, and the effect of restoration of the company to the register was that its freehold estate was retrospectively re-created and re-vested in the company in all respects as if it had never been dissolved and as if the freehold had never been disclaimed.