![]() The Judge dismissed that claim in its entirety holding that ![]() The trial took place in March 2020 in front of Mr Richard Spearman QC sitting as a Deputy High Court Judge in the Chancery Division. This was disputed by Mr Ellis who maintained that he had not caused the deficiency to increase at all. Manolete claimed that Mr Ellis should have stopped the company from trading from 31 January 2015 at the latest and that his failure to do so meant the company’s deficiency to its creditors increased by over £6,500,000. The principle claim pursued against Mr Ellis was for wrongful trading under Section 214 of The Insolvency Act. Mr Ellis was a non executive director and didn’t have any involvement in the running of the business. Mr Ellis put in approximately £2,000,000 of his own money to fund the company which he lost when the company went into liquidation. The company was supported by a grant and loan from The Regional Growth Fund. It was a socially worthwhile venture aimed at providing employment and training opportunities in software development for young people in deprived areas of the Northwest. The company had been started by Mr Ellis’ partner. ![]() Manolete purchased claims from the Liquidator of a company called Bright Software Future Limited which went into liquidation in February 2016. We have successfully defended Mr Robin Ellis from a claim brought by AIM listed insolvency litigation funders Manolete Partners PLC.
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