Francesco Corallo & Ors v Giuseppe Pinelli & Ors

Francesco Corallo & Ors v Giuseppe Pinelli & Ors

The Defendants were the successful parties as they resisted the freezing order; the Claimants are to pay 75% of the Defendants’ costs, reflecting deductions for the Defendants’ abandonment of the insurance point, failure on the threshold issue, and prior non-disclosure. Cross-undertakings from the Claimants are required because the undertakings given by the Defendants are equivalent in substance to injunctive relief, and the purpose of cross-undertakings applies equally whether relief is given by order or by undertaking.

Parties
Claimant/applicant: Francesco Corallo; Claimant/applicant: Horizon Re Limited; Claimant/applicant: Lowlands Managing Partner B. V.; Defendant/respondent: Giuseppe Pinelli; Defendant/respondent: Trading Office Limited; Defendant/respondent: Lemido Limited
Jurisdiction
England and Wales
Judgment Date
21 January 2026
Procedural Posture
Civil (injunctive Relief, Costs, Undertakings) / Post Judgment Consequential Matters (costs and Undertakings)
Outcome
Claimants to pay 75% of Defendants’ costs, assessed summarily at £32,500; cross-undertakings in damages required from Claimants.
Legal Topics
Costs, Freezing Orders, Injunctions, Cross Undertakings, Asset Disclosure
Civil Procedure Commercial Law Costs Freezing Orders Injunctions Cross Undertakings Asset Disclosure

Case Brief

Summary, issues, holding and outcome

More case intelligence is available

Unlock the full research layer for this judgment.

Full judgment text Downloadable case file Legal principles 2 Authorities cited 2 Party arguments 2 Amounts and remedies 3
Sign in to unlock

Parties

Francesco Corallo

Claimant/applicant

Horizon Re Limited

Claimant/applicant

Lowlands Managing Partner B. V.

Claimant/applicant

Giuseppe Pinelli

Defendant/respondent

Trading Office Limited

Defendant/respondent

Lemido Limited

Defendant/respondent

Procedural Posture

Civil (injunctive Relief, Costs, Undertakings) / Post Judgment Consequential Matters (costs and Undertakings)

Legal Issues

  1. 1 Whether the Claimants should pay the Defendants' costs and in what proportion
  2. 2 Whether the Claimants should be required to give cross-undertakings in respect of undertakings given by the Defendants

Ratio Decidendi

The Defendants were the successful parties as they resisted the freezing order; the Claimants are to pay 75% of the Defendants’ costs, reflecting deductions for the Defendants’ abandonment of the insurance point, failure on the threshold issue, and prior non-disclosure. Cross-undertakings from the Claimants are required because the undertakings given by the Defendants are equivalent in substance to injunctive relief, and the purpose of cross-undertakings applies equally whether relief is given by order or by undertaking.

Court Disposition

Claimants to pay 75% of Defendants’ costs, assessed summarily at £32,500; cross-undertakings in damages required from Claimants.

Orders

  • Claimants to pay Defendants £32,500 as costs, assessed summarily.
  • Claimants to provide cross-undertakings in damages in respect of undertakings given by Defendants.