Visit JCPCUKSC/2019/0046
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BANKING/INSOLVENCY
BTI 2014 LLC (Appellant) v Sequana SA and others (Respondents)
Case summary
Case ID
UKSC/2019/0046
Parties
Appellant(s)
BTI 2014 LLC
Respondent(s)
Sequana SA
Antoine Courteault
Pierre Martinet
Clive Mountford
Martin Newell
Selarl C Basse
Issue
Whether the trigger for the directors’ duty to consider creditors is merely a real risk of, as opposed to a probability of or close proximity to, insolvency.
Facts
Sequana’s subsidiary was liable to indemnify BAT for costs arising from the clean-up of a polluted river. The directors of the subsidiary resolved that it should pay a substantial dividend to Sequana, without – BAT says – leaving enough money in the subsidiary to pay for the clean-up costs.
Date of issue
5 March 2019
Judgment appealed
Judgment details
Judgment date
5 October 2022
Neutral citation
[2022] UKSC 25
Judgment links
Judgment summary
5 October 2022
Appeal
Justices
Hearing dates
Full hearing
Start date
4 May 2021
End date
5 May 2021
Watch hearings
4 May 2021 - Morning session
4 May 2021 - Afternoon session
5 May 2021 - Morning session
5 May 2021 - Afternoon session
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Change log
Last updated 16 April 2024