Successful Insolvency Judgement
2 / 11 / 2020
Insolvency Update – In the Matter of Wow Internet Limited
Forum Chambers’ Darragh Connell represented the successful applicant in the case of Hunt (as Liquidator for Wow Internet Limited) v Majid  EWHC 2890 Ch following a remote trial that took place in July 2020.
Judgment was handed down earlier this week. It has already received considerable attention from insolvency practitioners faced with the common situation of a director failing to adduce contemporaneous records to substantiate the legitimacy of payments made from a company’s bank account prior to its liquidation with Deputy ICC Judge Frith finding as follows:
“22. In short, if the directors of a company conduct the business informally and take a lackadaisical approach to the supply of contemporaneous documentary evidence, they do so at their own risk.”
A full copy of the judgment is available here: