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Case details

BTI 2014 LLC (Appellant) v Sequana SA and others (Respondents)

Case ID: UKSC 2019/0046

Case summary

Issue(s)

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.

Judgment appealed

[2019] EWCA Civ 112

Parties

Appellant(s)

BTI 2014 LLC

Respondent(s)

  1. Sequana SA
  2. Antoine Courteault
  3. Pierre Martinet
  4. Clive Mountford
  5. Martin Newell
  6. Selarl C Basse

Appeal

Justices

Lord Reed, Lord Hodge, Lord Briggs, Lady Arden, Lord Kitchin

Hearing start date

4 May 2021

Hearing finish date

5 May 2021

Watch hearing
04 May 2021 Morning session Afternoon session
05 May 2021 Morning session Afternoon session
 

Judgment details

Judgment date

5 October 2022

Neutral citation

[2022] UKSC 25