VB Football Assets (VBFA) v Blackpool Football Club (Properties) Ltd & Ors

VB Football Assets (VBFA) v Blackpool Football Club (Properties) Ltd & Ors

A receiver by way of equitable execution should be appointed over the shares and assets of the First Respondent (including footballing assets) because ordinary enforcement methods have failed, and such appointment is necessary and just to enable a sale of Blackpool Football Club as a going concern. There is insufficient evidence to justify appointment over non-footballing assets not held by the First Respondent or over Closelink shares.

Parties
Petitioner: VB Football Assets (VBFA); First Respondent: Blackpool Football Club (Properties) Limited (formerly Segesta Limited); Second Respondent: Owen Oyston; Third Respondent: Karl Oyston; Fourth Respondent: Blackpool Football Club Limited (BFC)
Jurisdiction
England and Wales
Judgment Date
13 February 2019
Procedural Posture
Application / Judgment on Application for Appointment of Receiver by Way of Equitable Execution
Outcome
Application granted in part
Legal Topics
Appointment of Receiver, Equitable Execution, Enforcement of Judgment Debt
Civil Procedure Insolvency Enforcement of Judgments Appointment of Receiver Equitable Execution Enforcement of Judgment Debt

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Parties

VB Football Assets (VBFA)

Petitioner

Blackpool Football Club (Properties) Limited (formerly Segesta Limited)

First Respondent

Owen Oyston

Second Respondent

Karl Oyston

Third Respondent

Blackpool Football Club Limited (BFC)

Fourth Respondent

Procedural Posture

Application / Judgment on Application for Appointment of Receiver by Way of Equitable Execution

Legal Issues

  1. 1 Whether the court should appoint a receiver by way of equitable execution over assets of the Respondents to enforce a judgment debt

Ratio Decidendi

A receiver by way of equitable execution should be appointed over the shares and assets of the First Respondent (including footballing assets) because ordinary enforcement methods have failed, and such appointment is necessary and just to enable a sale of Blackpool Football Club as a going concern. There is insufficient evidence to justify appointment over non-footballing assets not held by the First Respondent or over Closelink shares.

Court Disposition

Application granted in part

Orders

  • Receiver by way of equitable execution appointed over all assets and shares of the First Respondent (Blackpool Football Club (Properties) Limited)
  • Application refused as regards non-footballing assets not held by the First Respondent and shares in Closelink