United Kingdom uncategorized

Re Charnley Davies Ltd (No 2)

[1990] BCLC 760; [1990] BCC 605 (Ch D, Millett J)

JurisdictionUnited Kingdom

CourtChancery Division

Year1990

StatusPersuasive authority

Key Principle

An administrator owes a duty to take reasonable care to obtain the best price the circumstances permit when selling the company's business; a complaint that he failed to do so is one of professional negligence, judged by the standard of an ordinary skilled insolvency practitioner, not the most meticulous.

Area of Law

Related Cases

Salford Estates (No 2) Ltd v Altomart Ltd (No 2) [2014] EWCA Civ 1575; [2015] Ch 589; [2015] 1 WLR 1825

Cambridge Gas Transport Corp v Official Committee of Unsecured Creditors of Navigator Holdings plc [2006] UKPC 26; [2007] 1 AC 508 (PC)

Money Markets International Stockbrokers Ltd (in liquidation) v London Stock Exchange Ltd [2001] EWHC 1052 (Ch); [2002] 1 WLR 1150

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