“…The next case to which I should refer is the decision of the Supreme Court in Bilta (UK) Ltd v Nazir (No 2) [2015] UKSC 23, [2016] AC 1. The relevant defendants in that case were Jetivia SA (a Swiss company) and a Mr Brunschweiler, its sole director and a resident of France. It was said that th…”
“…In the Supreme Court ([2015] UKSC 23, [2016] AC 1), the creditors’ interests duty was commented on in two judgments. After referring to the duty to promote the success of a company in section 172(1), Lord Sump…”
“…. Daiwa acknowledged, however, that Lord Neuberger had said in the Supreme Court (supported by the majority) in Bilta (UK) Ltd (in liquidation) v. Nazir (No 2) [2016] AC 1 (“Bilta”) that the decision in Stone & Rolls should not be looked at again (see paragraph 30 of his judgment in that case).…”