Liquidators and liability caps: the Core VCT litigation

Callum Reid-Hutchings of Gatehouse Chambers examines the Core VCT litigation to explain how the High Court has confirmed that liquidators’ statutory duties, rooted in the concept of a statutory trust, cannot be limited or capped by contractual terms agreed before appointment, while leaving open the extent to which insolvency firms may rely on liability limits for their own separate services and flagging unresolved issues around vicarious liability and the Unfair Contract Terms Act 1977.

Read more.