Success for our Commercial Litigation team
Our client faced a claim in excess of £6 million following the insolvency of our client’s company. The claim involved allegations that our client had breached their duties to the Company pursuant to Sections 171-175 of the Companies Act 2006 and included a £5.5 million claim for wrongful trading pursuant to section 124 of the Insolvency Act 2014.
Following our advice, the claim for wrongful trading was abandoned and an agreement was made to settle the dispute for £120,000, a fiftieth of the initial claim. Our commercial litigation team successfully submitted that a substantial part of the claim was statutory barred under the Limitation Act 1980 and the precedent set in Burnden Holdings (UK) Ltd (in liquidation) v Fielding [2019] EWHC 1566 did not apply to this particular claim.
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