The applicant, the liquidator of a restaurant (the company), applied for a declaration that transactions in the sum of £771,918 comprising of monies belonging to the company retained for the benefit of the respondents (two directors of the company during the course of trading) constituted misfeasance within the meaning of s 212 of the Insolvency Act 1986 (IA 1986). Further, that the company was entitled to the total sum under IA 1986 s 234(2) together with an order that the respondents make good the amount.