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Centre Reinsurance International Co and others -v- Freakley and others [House of Lords]

24th Jul 2006

[2006] 1 WLR 2863, [2004] 2 All ER (Comm) 28

Christopher Butcher QC and David Edwards QC – Insolvency – Administration order – Debts or liabilities incurred by administrator – Insurance policy entered into by company in respect of asbestos liability – Claims-handling rights transferred to insurers on subsequent appointment of administrators – Whether claims-handling expenses to be treated as costs of administration – Whether having priority over company’s other debts – Insolvency Act 1986 (c 45) (as amended by Insolvency Act 1994 (c 7), s. 1(3)), s. 19(5)