Cross Transport Ltd (in administration)

Sam Fenwick of Wedlake Bell explains why “must” does not always mean “must”, and “super-priority” may not be as super as its name implies according to a recent judgment of ICC Judge Jones, sitting in retirement, which offers cautious comfort to administrators by confirming that protected moratorium debt “super-priority” does not create an absolute bar to paying litigation funding costs, expenses or remuneration first where doing so is needed to pursue recoveries for the benefit of the administration.

Read more.