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Neville (administrator of Unireg Ltd) v Krikorian

The former director of a company that had become insolvent was jointly and severally liable to indemnify the company for losses as a result of authorising loans by the company to his codirector.

14 July 2006

The appellant former director (K) appealed against a decision granting summary judgment in favour of the respondent administrator (N) and also made two applications for leave to adduce further evidence. K and his son (S) were the directors of a company (U). U presented its own petition and, on his appointment as administrator, N issued an originating application against both K and S on the basis that they had received credit from U on their loan accounts. Both directors conceded to that. N applied for summary judgment and argued that both K and S were jointly and severally liable for each other's indebtedness, in accordance with s 341(2)(b) of the Companies Act 1985. K requested an adjournment to enable him to consider whether to put in evidence to the effect that he did not know of S’s loan account. However, the judge refused to grant the adjournment and granted summary judgment in favour of N on the basis that the claim to joint and several liability had been made out. K was ord...

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