Liddle & Anor v Liddle & Ors

Liddle & Anor v Liddle & Ors

The partnership agreement is clear that payment of the purchase price is not suspended pending ascertainment; the acceleration clause applies so the full purchase price is now due. No contractual interest is payable on the 20% element, but statutory interest may be awarded. The statutory demands are set aside as the debt was not liquidated at the time of service, since the accountants' figures were successfully challenged and the price not yet ascertained under the contractual machinery.

Parties
Claimant/respondent: Stuart David Liddle; Claimant/respondent: Joyce Roseanne Liddle; Defendant/applicant: Mary Liddle; Defendant/applicant: Robert Allen Liddle; Defendant/applicant: Martin Philip Liddle; Defendant/applicant: Andrew Steven Liddle
Jurisdiction
England and Wales
Judgment Date
13 September 2017
Procedural Posture
Civil Partnership Dispute / Judgment After Trial and Applications to Set Aside Statutory Demands
Outcome
Statutory demands set aside; declaration that full purchase price is now due; interest on 20% element to be determined on application; parties to agree orders or return to court.
Legal Topics
Construction of Partnership Agreement, Payment of Purchase Price, Interest on Purchase Price, Statutory Demands, Liquidated Debt
Contract Law Partnership Law Civil Procedure Construction of Partnership Agreement Payment of Purchase Price Interest on Purchase Price Statutory Demands Liquidated Debt

Case Brief

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Parties

Stuart David Liddle

Claimant/respondent

Joyce Roseanne Liddle

Claimant/respondent

Mary Liddle

Defendant/applicant

Robert Allen Liddle

Defendant/applicant

Martin Philip Liddle

Defendant/applicant

Andrew Steven Liddle

Defendant/applicant

Procedural Posture

Civil Partnership Dispute / Judgment After Trial and Applications to Set Aside Statutory Demands

Legal Issues

  1. 1 Whether payment of the purchase price under the partnership agreement is accelerated and now due in full
  2. 2 Whether interest is payable on the 20% element of the purchase price under the contract or statute
  3. 3 Whether the statutory demands served were valid given the ascertainment of the debt

Ratio Decidendi

The partnership agreement is clear that payment of the purchase price is not suspended pending ascertainment; the acceleration clause applies so the full purchase price is now due. No contractual interest is payable on the 20% element, but statutory interest may be awarded. The statutory demands are set aside as the debt was not liquidated at the time of service, since the accountants' figures were successfully challenged and the price not yet ascertained under the contractual machinery.

Court Disposition

Statutory demands set aside; declaration that full purchase price is now due; interest on 20% element to be determined on application; parties to agree orders or return to court.

Orders

  • Statutory demands set aside
  • Declaration that full purchase price is due and payable