![CR-2018-009110 - [2025] EWHC 2115 (Ch)](https://backend.juristeca.com/files/emisores/logo_O3rEzCI.png){kind=logo}
Heading
IN PRIVATE
Royal Courts of Justice, Rolls Building
Fetter Lane, London, EC4A 1NL
Before :
MR SIMON GLEESON
(Siting as a Deputy High Court Judge)
Between :
(1) BTI 2014 LLC (2) BAT INDUSTRIES PLC | Applicants |
- and – | |
(1) FINBARR O'CONNELL (2) COLIN HARDMAN (as Joint Administrators of Windward Prospects Limited) (3) WINDWARD PROSPECTS LIMITED (IN ADMINISTRATION) | Respondents |
James Sheehan KC, William Willson and Grace Ferrier (instructed by Hogan Lovells International LLP) for the Applicants
Barry Isaacs KC and LLoyd Tamlyn (instructed by Paul Hastings (Europe) LLP) for the First and Second Respondents
Hearing dates: 17-18 July 2025
Approved Judgment
This judgment was handed down remotely at 10.30am on 7th August 2025 by circulation to the parties or their representatives by e-mail and by release to the National Archives.
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MR SIMON GLEESON
- Heading
- Mr Simon Gleeson
- The Position of the Company
- Who are the Creditors?
- The BAT Debt
- The BTI Debt
- Set-off of the £7.6m PwC Share
- The Significance of the Applicants’ Status as Majority Creditors
- How Significant is the Conflict which the Current Administrators Face?
- Could the conflict be “managed”?
- The Removal of Administrators - Principles
- Has the test for removal been met?
- The Administrators’ Conduct in Respect of the Conflict
- The Conduct of the Administrators After the Conflict was Discovered
- Conduct – the E-mails
- Do the Applicants have an Adverse Interest to the Creditors Generally?
- Application to the facts
- The Reputation Ground
- Conclusions