What happens to estate assets when a PR is replaced under section 50 of the Administration of Justice Act 1985?

McCallum-Toppin and Another v McCallum-Toppin and Others [2018] EWHC 1562 (Ch)

The facts

The dispute concerned the running of AMT Coffee Ltd, the company which operates a chain of coffeehouses of the same name that are mainly located at railway stations. The company was incorporated in 1993. Its four ordinary shares were originally held by the three McCallum-Topping brothers – Angus, Alistair and Allan – and their father Alexander.