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
Parties
Appellant(s)
BTI 2014 LLC
Respondent(s)
- Sequana SA
- Antoine Courteault
- Pierre Martinet
- Clive Mountford
- Martin Newell
- 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