A simple debt claim or an insolvency proceeding?
The shareholders argue that the existing proceedings are to be treated as a nullity due to the use of an Insolvency Act Application Notice issued within administration proceedings, was impermissible under the Insolvency Rules 2016 (“IR 2016”), and that the proceedings ought to have been brought by way of an ordinary claim by way of Part 7 claim form under the Civil Procedure Rules (“CPR”).