Bell v Long & Ors [2008] EWHC 1273 (Ch) (16 June 2008)

Bell v Long & Ors [2008] EWHC 1273 (Ch) (16 June 2008)

The receivers and their agents did not breach their duty to the company; the decision to pursue a portfolio sale was a reasonable and competent strategy in the circumstances, supported by expert evidence, and there was no evidence of negligence or conspiracy.

Citation
[2008] EWHC 1273 (Ch)
Parties
Claimant: Mr Philip Graham Bell; 1st Defendant: Philip James Long; 2nd Defendant: Andrew William Thompson; 3rd Defendant: Pannell Kerr Forster (a firm); 4th Defendant: Weatherall Green & Smith North Limited
Jurisdiction
England and Wales
Judgment Date
16 June 2008
Procedural Posture
Chancery Division Claim for Breach of Duty by Receivers and Conspiracy/fraud / Judgment After Trial
Outcome
Claim dismissed
Legal Topics
Duties of Receivers, Sale of Mortgaged Property, Breach of Duty, Negligence, Conspiracy, Fraud, Valuation of Property, Portfolio Sale Vs Individual Sale
Property Law Equity and Trusts Insolvency Duties of Receivers Sale of Mortgaged Property Breach of Duty Negligence Conspiracy +3 more

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Parties

Mr Philip Graham Bell

Claimant

Philip James Long

1st Defendant

Andrew William Thompson

2nd Defendant

Pannell Kerr Forster (a firm)

3rd Defendant

Weatherall Green & Smith North Limited

4th Defendant

Procedural Posture

Chancery Division Claim for Breach of Duty by Receivers and Conspiracy/fraud / Judgment After Trial

Legal Issues

  1. 1 Whether the receivers breached their duty to obtain the best price reasonably obtainable for the company's properties
  2. 2 Whether the receivers and agents acted negligently in opting for a portfolio sale rather than individual sales
  3. 3 Whether there was a conspiracy to defraud the company and its shareholders

Ratio Decidendi

The receivers and their agents did not breach their duty to the company; the decision to pursue a portfolio sale was a reasonable and competent strategy in the circumstances, supported by expert evidence, and there was no evidence of negligence or conspiracy.

Court Disposition

Claim dismissed

Orders

  • Claim against the receivers is dismissed