The recent judgment in MB Refrigeration and Air-conditioning Limited (in liquidation) v- Allied Irish Bank Plc [2016] has clarified what constitutes notice of the liquidation of a company for creditors and banks alike, write Mark Woodcock (pictured right) and Joanne Cooney (pictured below) of McDowell Purcell.
In this case the liquidator sought recovery of money paid out of a companys bank account after it went into liquidation. The liquidator sought a declaration that the bank was on notice of the companys liquidation from the date of the advertisement and that any payments from the companys account from that date should be reversed in accordance with the provisions of the Companys Act 1963. The liquidator relied on the provis…
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