Financial Conduct Authority v Carillion Plc [2021] EWHC 2871 (Ch) reminds arbitration lawyers that section 130(2) of the Insolvency Act requires the claimant to seek the leave of the insolvency court to start an arbitration against a company where a winding-up order has been made or a provisional liquidator appointed.
Section 130(2) says: When a winding-up order has been made or a provisional liquidator has been appointed, no action or proceeding shall be proceeded with or commenced against the company or its property, except by leave of the court and subject to such terms as the court may impose.
Everyone including the judge agreed that arbitration proceedings were covered here, following the remarks of the Court of Appeal in Bristol Airport Plc v Powdrill [1990] Ch 744.
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