Laverty & Ors v Greensill Bank AG & Anor (Rev1) [2023] EWHC 2429 (Ch) (19 September 2023)

Laverty & Ors v Greensill Bank AG & Anor (Rev1) [2023] EWHC 2429 (Ch) (19 September 2023)

CPR Part 36 applies to hostile insolvency proceedings between administrators and adverse claimants; the Part 36 offer made by Greensill AG was validly accepted by Greensill UK and not subject to a condition precedent; there was no mismatch between offer and acceptance.

Source-derived case information.

Citation
[2023] EWHC 2429 (Ch)
Parties
Applicant/respondent: Christine Mary Laverty; Applicant/respondent: Russell Simpson; Applicant/respondent: William Stagg; Respondent/applicant: Greensill Bank AG; Respondent/applicant: Dr Michael Frege
Jurisdiction
England and Wales
Judgment Date
19 September 2023
Procedural Posture
Insolvency Application / Interlocutory Determination of Applicability of CPR Part 36 and Validity of Settlement Offer
Outcome
Application by Greensill UK succeeds; cross-application by Greensill AG fails.
Legal Topics
Applicability of CPR Part 36 in Insolvency Proceedings, Settlement Offers, Costs Consequences
Insolvency Civil Procedure Applicability of CPR Part 36 in Insolvency Proceedings Settlement Offers Costs Consequences

Source-derived case record

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Parties

Christine Mary Laverty

Applicant/respondent

Russell Simpson

Applicant/respondent

William Stagg

Applicant/respondent

Greensill Bank AG

Respondent/applicant

Dr Michael Frege

Respondent/applicant

Procedural Posture

Insolvency Application / Interlocutory Determination of Applicability of CPR Part 36 and Validity of Settlement Offer

Legal Issues

  1. 1 Does CPR Part 36 apply to hostile insolvency applications by administrators?
  2. 2 Was Greensill AG's Part 36 offer validly accepted by Greensill UK?
  3. 3 Was the offer subject to a condition precedent regarding court determination of Part 36 applicability?

Ratio Decidendi

CPR Part 36 applies to hostile insolvency proceedings between administrators and adverse claimants; the Part 36 offer made by Greensill AG was validly accepted by Greensill UK and not subject to a condition precedent; there was no mismatch between offer and acceptance.

Court Disposition

Application by Greensill UK succeeds; cross-application by Greensill AG fails.

Orders

  • Part 36 applies to these proceedings.
  • The Part 36 offer made by Greensill AG was validly accepted by Greensill UK.