4 The administrator of a company must perform his functions as quickly and efficiently as is reasonably practicable.
Definitions used in Schedule B1, paragraph 4 3
- administrator
1 (1) For the purposes of this Act “administrator” of a company means a person appointed under this Schedule to manage the company’s affairs, business and property.
Defined in Sch.B1 para.1(1) · see it in the full Act“administrator” has the meaning given by paragraph 1 and, where the context requires, includes a reference to a former administrator,
Defined in Sch.B1 para.111(1) · see it in the full Act- the company
2 Section 233B does not apply in relation to a contract for the supply of goods or services to a company (“the company”) where any of paragraphs 3 to 11 applies.
Defined in Sch.4ZZA para.2 · see it in the full Act- company
(1A) In this Schedule, “company” means—
(a)a company registered under the Companies Act 2006 in England and Wales or Scotland,
(b)a company incorporated in an EEA State ..., or
(c)a company not incorporated in an EEA State but having its centre of main interests in a member State (other than Denmark) or in the United Kingdom .
Defined in Sch.B1 para.111(1A) · see it in the full Act
Cases considering Schedule B1, paragraph 4 17
PJSC Uralkali v Rowley & Anor
Applies the requirement that administrators perform their functions as quickly and efficiently as is reasonably practicable. (see paras [69], [379]-[387])
Gillan v HEC Enterprises Ltd & Ors
Requires an administrator to perform functions as quickly and efficiently as reasonably practicable. The court applied that requirement in concluding that the administrators should have responded promptly to the applications for permission. (see paras [26], [68](i), [68](xiv))
Lomas & Ors v Burlington Loan Management Ltd & Ors
The duty to perform administration functions as quickly and efficiently as reasonably practicable supported the construction that the agreements were directed to claims determination and distributions, not unrelated releases (see paras [67]-[69]).
- Data Power Systems Ltd & Ors v Safehosts (London) Ltd & Anor
- Somerfield Stores Ltd v Spring (Sutton Coldfield) Ltd
- Lehman Brothers International (Europe), Re
- Mir Steel UK Ltd v Morris & Ors
- Key2Law (Surrey) LLP v De' Antiquis
- Alldey Michael Loveridge v Craig Povey & Ors
- One Blackfriars Ltd, Re
- Kebbell & Anor v Hat & Mitre PLC & Ors (As Joint Administrators of Hat & Mitre PLC)
- Lehman Brothers Australia Ltd v Lomas & Ors
- Fraser Turner Ltd v Pricewaterhousecoopers LLP & Ors
- Goel & Anor v Grant & Anor (As Joint Administrators of Meem SL Ltd) & Anor
- Leisure (Norwich) II Ltd & Ors v Luminar Lava Ignite Ltd
- Clark & Anor v Finnerty & Anor
1 more judgment, and what each says about Schedule B1, paragraph 4, are in the case-law panel in the full Act.
Amendments and notes
1 notes from legislation.gov.uk
Modifications
- C1345Sch. B1 paras. 4-6 applied (with modifications) (E.W.) (15.3.2024) by The Water Industry (Special Administration) Regulations 2024 (S.I. 2024/205), regs. 2(2), 5(1), 9 (with reg. 64)