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Cage Litigation Limited v Iqbal [2022]

Samuel Hodge represented the intended respondent, Cage Litigation Limited, at a permission to appeal application by Mrs Iqbal.

The judgment considers the question (which has also been considered in Re Oxford Pharmaceuticals [2009] 2 BCLC 485) of whether the existence of a “running account” between company and creditor can provide a defence to a preference claim or mean that a recipient creditor should be given credit for payments made to the Company as part of a course of dealings. The Vice-Chancellor, Mr Justice Fancourt, considered the requirements for a “running account” argument to be made out, and concluded that such an argument was not open to Mrs Iqbal on the evidence at trial.