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Richmondshire District Council v Dealmaster [2021]

Creditor challenge to a CVA on multiple grounds, including (1) alleged under-valuation of the Company’s assets in the table of comparison between CVA and liquidation; and (2) appeal against nominee’s decision to admit debt of another creditor for voting. Matthew acted for chairman and supervisor. Judgment affirms that it is not the function of the court to carry out a detailed audit to satisfy itself beyond any doubt at all that a debt put forward for voting purposes is properly owed in the quantum put forward. The court (and a chairman of a meeting) is entitled to rely on the balance of probabilities and the evidence put before it. The court should not be expected to conduct some sort of forensic full audit into each and every relevant aspect of the debt over time.

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