Core (UK) Ltd v Puncher & Anor [2025] EWHC 1962 (Ch) (31 July 2025)

Core (UK) Ltd v Puncher & Anor [2025] EWHC 1962 (Ch) (31 July 2025)

BP and AP have a real prospect of succeeding at trial in achieving a result where they are not required to pay the amount claimed, due to the overlap with the unfair prejudice petition, the need to determine the true value of Core and the parties' shares, and the existence of informal arrangements. Summary judgment is therefore refused.

Citation
[2025] EWHC 1962 (Ch)
Parties
Claimant: Core (UK) Limited; First Defendant: Benjamin Puncher; Second Defendant: Ara Puncher
Jurisdiction
England and Wales
Judgment Date
31 July 2025
Procedural Posture
Civil (company Law) / Summary Judgment Application
Outcome
Summary judgment application dismissed
Legal Topics
Directors' Duties, Summary Judgment, Unfair Prejudice, Remuneration and Loans to Directors, Dishonest Assistance
Company Law Equity Directors' Duties Summary Judgment Unfair Prejudice Remuneration and Loans to Directors Dishonest Assistance

Case Brief

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Parties

Core (UK) Limited

Claimant

Benjamin Puncher

First Defendant

Ara Puncher

Second Defendant

Procedural Posture

Civil (company Law) / Summary Judgment Application

Legal Issues

  1. 1 Whether summary judgment should be granted against BP for £266,503.70 in respect of admitted improper payments and a loan
  2. 2 Whether BP has a real prospect of defending the claim in light of informal arrangements and pending unfair prejudice petition
  3. 3 Whether the payments can be recharacterised as remuneration or set off against future dividends or share buy-out

Ratio Decidendi

BP and AP have a real prospect of succeeding at trial in achieving a result where they are not required to pay the amount claimed, due to the overlap with the unfair prejudice petition, the need to determine the true value of Core and the parties' shares, and the existence of informal arrangements. Summary judgment is therefore refused.

Court Disposition

Summary judgment application dismissed

Orders

  • Summary judgment against Benjamin Puncher refused
  • Claim to proceed to trial