When a dissolved company is restored what happens to its former property, asks Benjamin Caswell
In the Back to the Future film franchise Marty McFly travelled backwards and forwards in time by 30 years, first to 1955 and back, and then to 2015 and back. The similarities and differences between the predicted 2015 featured therein and the real 2015 have been commented upon elsewhere. Much of the dramatic tension in the first film revolved around the need to ensure that Marty’s trip to the past did not disturb the reality of his present.
Prestwick
It is doubtful that the Inner House of the Court of Session in Scotland had the film franchise in mind when they gave their recent decision in ELB Securities Ltd v Alan Love & Prestwick Hotels Ltd [2015] CSIH 67, but nonetheless the same dramatic tension is involved.
The issue that faced them is what happens when a dissolved company is restored, in particular what happens to the property that it once owned?
In case English practitioners are unfamiliar with the hierarchy of courts in Scotland, the Inner
