Jafari-Fini v Skillglass Ltd & Ors

Jafari-Fini v Skillglass Ltd & Ors

Skillglass was entitled to serve the October notice of default and December notice of demand because PAL was in breach of clause 20.1, a Major Default had occurred due to the undisclosed bribe to Mr Constable, and there was no valid assurance or waiver. The Claimant was not entitled to the declarations or orders sought, and enforcement of security was valid.

Parties
Claimant: Mohammad Jafari-Fini; First Defendant: Skillglass Limited (in administration); Second Defendant: Phoenix Acquisitions Limited (in administration); Third Defendant: Adeste Investments PLC (formerly Resurge PLC)
Jurisdiction
England and Wales
Judgment Date
18 January 2006
Procedural Posture
Civil Commercial/contract / Trial of Preliminary Issues
Outcome
Claimant's claims for declarations and orders dismissed; Skillglass' notices and enforcement actions upheld.
Legal Topics
Facility Agreements, Security Enforcement, Breach of Contract, Bribery and Corruption, Directors' Duties, Estoppel by Convention
Contract Law Company Law Equity and Trusts Facility Agreements Security Enforcement Breach of Contract Bribery and Corruption Directors' Duties +1 more

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Parties

Mohammad Jafari-Fini

Claimant

Skillglass Limited (in administration)

First Defendant

Phoenix Acquisitions Limited (in administration)

Second Defendant

Adeste Investments PLC (formerly Resurge PLC)

Third Defendant

Procedural Posture

Civil Commercial/contract / Trial of Preliminary Issues

Legal Issues

  1. 1 Whether Skillglass was entitled to serve the October notice of default and December notice of demand under the Facility Agreement
  2. 2 Whether a Major Default had occurred under the Facility Agreement
  3. 3 Whether the Claimant was entitled to declarations discharging him from liability under the Guarantee and Charges

Ratio Decidendi

Skillglass was entitled to serve the October notice of default and December notice of demand because PAL was in breach of clause 20.1, a Major Default had occurred due to the undisclosed bribe to Mr Constable, and there was no valid assurance or waiver. The Claimant was not entitled to the declarations or orders sought, and enforcement of security was valid.

Court Disposition

Claimant's claims for declarations and orders dismissed; Skillglass' notices and enforcement actions upheld.