Scottish & Newcastle Ltd. v Raguz

Scottish & Newcastle Ltd. v Raguz

The security offered by Mr Raguz was inadequate based on independent valuations, and the evidence of imminent payment was not credible. No material change in circumstances or genuinely new evidence was demonstrated to justify review or admission of fresh evidence. The District Judge applied the correct legal principles and exercised discretion properly; therefore, the appeal and review must fail.

Parties
Petitioner/respondent: Scottish & Newcastle Limited; Debtor/appellant: Zeljko Stephen Raguz
Jurisdiction
England and Wales
Judgment Date
10 June 2010
Procedural Posture
Bankruptcy Petition / Application for Permission to Appeal and Review of Bankruptcy Order
Outcome
Appeal dismissed; review refused; permission to appeal granted but appeal fails on merits.
Legal Topics
Appeals, Review of Orders, Adducing Fresh Evidence, Adjournment of Bankruptcy Petition, Security for Debt
Insolvency Bankruptcy Appeals Review of Orders Adducing Fresh Evidence Adjournment of Bankruptcy Petition Security for Debt

Case Brief

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Parties

Scottish & Newcastle Limited

Petitioner/respondent

Zeljko Stephen Raguz

Debtor/appellant

Procedural Posture

Bankruptcy Petition / Application for Permission to Appeal and Review of Bankruptcy Order

Legal Issues

  1. 1 Whether the District Judge erred in refusing to dismiss the bankruptcy petition based on the security offered
  2. 2 Whether the District Judge erred in refusing to adjourn the petition pending sale of assets
  3. 3 Whether fresh evidence should be admitted on appeal or review

Ratio Decidendi

The security offered by Mr Raguz was inadequate based on independent valuations, and the evidence of imminent payment was not credible. No material change in circumstances or genuinely new evidence was demonstrated to justify review or admission of fresh evidence. The District Judge applied the correct legal principles and exercised discretion properly; therefore, the appeal and review must fail.

Court Disposition

Appeal dismissed; review refused; permission to appeal granted but appeal fails on merits.

Orders

  • Refusal to review District Judge's decision under s.375(1)
  • Permission to appeal granted under s.375(2)