In Brewer & Anor v Iqbal [2019] EWHC 182 (Ch) the joint liquidators of ARY Digital UK Ltd, Richard Brewer and Mark Wilson, brought breach of duty claims against the former administrator of the company, Zafar Iqbal.
The court heard how Iqbal had sold the companys business and assets back to the directors in a pre-pack. These included Electronic Programming Guides (EPG), Sky TV channels, which Iqbal sold at an undervalue. The EPGs were acquired on a fixed-term basis by agreement between ARY Digital UK and British Sky Broadcasting Limited.
Iqbal became administrator of the company on 19 May 2011 and sold the companys assets to a company incorporated by ARY Digital UKs directors for the purpose of acquiring the assets during the administrati…
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