Resignation of Joint Administrator 12 March 2019

Following the Joint Administrators’ announcements dated 21 February 2019 and 1 March 2019, Julian Guy Parr gave notice to the Court that he resigns from the office of Administrator of LBIE with effect from 8 March 2019, pursuant to paragraph 87(2)(a) of Schedule B1 to the Insolvency Act 1986 (the “Act”) and in accordance with Rule 3.64 of the Insolvency Rules (England and Wales) 2016.

An application was issued on 8 March 2019 for confirmation that Mr Parr’s resignation was effective in the form given or, in the alternative, for an order granting permission to resign as an administrator.

The application also seeks an Order pursuant to paragraph 98(2)(c) the Act that Mr Parr be discharged from liability under paragraph 98(1)) of Schedule B1 to the Act (subject to the limitations provided for in paragraph 98(4) of Schedule B1 to the Act) in respect of any action (or inaction) of his as administrator of LBIE, such discharge to take effect at a date specified by the court, save in respect of claims notified to the then current joint administrators of LBIE before that date.

A copy of the Application Notice is available here.

The Application was held before Mr Justice Hildyard on Wednesday 20 March 2019 at the Rolls Building.

A copy of the judgment can be found here and a copy of the sealed Order dated 6 September 2019 can be found here.