Whose Claim is it? A Critical Assessment of the Re Oasis Merchandising Services Orthodox
17 Pages Posted: 27 Jun 2007
Date Written: June 26, 2006
The lynchpin of the reasoning in Re Oasis Merchandising Services  Ch 170 - the ownership of claims brought by an insolvency officeholder being dependent on the distinction between the company's assets and the officeholder's statutory rights - is erroneous in principle and contrary to authorities.
In light of Smith (Administrator of Cosslett (Contractors)) v Bridgend County Borough Council  UKHL 58, claims under ss 127, 213, 214, 238, 239 and 245 of the Insolvency Act 1986 (and their resulting proceeds) belong to the company in administration or liquidation.
There is no inherent logical divide between a pre-insolvency debenture's scope and the fruits of an officeholder's claims.
Keywords: Liquidation, Officeholders' Claims, Statutory Claims, Claims Belonging to the Company
JEL Classification: K10, K11, K12, K13, K20, K29, K30, K39
Suggested Citation: Suggested Citation