Tuesday, 28 January 2014

Can the court grant permission for a limited period only?

The answer is yes. It may do this because:

a. It wants to be convinced that the company can trade on a solvent basis in the future and thus allow permission for a short period of time to allow the person making the application time to convince the court that leave should then be granted for the entire period.

b. It might not be sure if the conditions can be complied with and wants the company to try to implement them and then come back to court.

c. It might just allow it to enable the applicant time to complete a single transaction which is important to the company.