Jul 2013
The High Court has dismissed an application for a validation order under Section 127(1) where the payment to be validated was in respect of solicitor’s fees that the insolvent company had incurred in attempting to compromise the petition debt, rather than in defending the winding-up petition. In the absence of any genuine defence to the petition, the Court could not see that the solicitor’s fees were incurred in the interests of the creditors!
.jpg)
