Not just a rubber stamp: principles for liquidators to get decisions blessed by Royal Court
The Royal Court recently handed down judgment in In the matter of CanArgo Limited (in liquidation) ([2020] GRC064), bringing to an end an important chapter in a long-running dispute regarding control of the exploration and exploitation of the oil and gas reserves of Georgia. This judgment makes it clear that liquidators can approach the court to approve a significant decision that they have taken to enter into a transaction and that such decision is akin to a Public Trustee v Cooper blessing of a momentous decision in a trusts context. While the court will not allow liquidators to surrender...
Source: internationallawoffice.com