Dusoruth v Orca Finance UK Ltd: liquidated debts for bankruptcy petition and subrogated claims

For creditors of individuals and trustees-in-bankruptcy considering the impact of Dusoruth v Orca Finance UK Ltd [2022] EWHC 2346 (Ch), where the Insolvency and Companies Court exercised its discretion not to annul a bankruptcy order made 18 months previously, notwithstanding a finding that the debts on which the petition had been based were not for liquidated sums, Lance Ashworth KC and Wilson Leung have published a short analysis on LexisNexis PSL. Their analysis covers the background to the case, the court’s reasoning and the practical implications for creditors and those representing them when it comes to the drafting of bankruptcy petitions.

Lance Ashworth KC and Wilson Leung represented the petitioning creditor, Orca Finance UK Ltd., instructed by Alan Bercow and Priya Grigoriadis of Stephenson Harwood LLP and were successful in having the annulment application dismissed.

The article was first published on LexisPSL on 3rd October 2022.