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Insurance monies wrongly paid out to directors of insolvent company.
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High Court holds that a company in liquidation was the rightful owner of insurance monies that were wrongly disbursed to the directors.
Company law - company in liquidation - insurance payment received - funds disbursed to directors - company insolvent - whether payment to directors within two years prior to winding up was invalid - appointment of liquidator - s. 286, Companies Act 1963 - whether a fraudulent preference - apportionment of funds based on accountant's report - whether company had an insurable interest in the relevant property - assumptions made by accountant.
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