Silven Properties Ltd v Royal Bank of Scotland plc [2003] EWCA Civ 1409; [2004] 1 WLR 997
Citation: Silven Properties Ltd v Royal Bank of Scotland plc [2003] EWCA Civ 1409; [2004] 1 WLR 997
Rule of thumb: What is the key principle for insolvency practitioners to follow when they take over an organisation in financial trouble? The key aspect for them is to follow all requisite steps required of them – this more important than the actual results they achieve.
Judgment:
‘The holder of a standard security is under a statutory duty when selling the security subjects to advertise the sale and take all reasonable steps to ensure that the price at which all or any of the subjects are sold is the best that can reasonably be obtained’, Lightman J para 25
Warning: This is not professional legal advice. This is not professional legal education advice. Please obtain professional guidance before embarking on any legal course of action. This is just an interpretation of a Judgment by persons of legal insight & varying levels of legal specialism, experience & expertise. Please read the Judgment yourself and form your own interpretation of it with professional assistance.