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Anon at 1.57 hits the nail on the head.

I will go further as clearly the point of issuing proceedings is often far more under hand and cynical. Disinterested creditors will see no return, but often don't step in to prevent litigation, which now needs no 'sanction'. The company assets can then be conveniently ran down in the accrual of legal fees. I'll leave you to think where they end up...