SIA Investment Industry v Pardus Wealth Limited & Anor

SIA Investment Industry v Pardus Wealth Limited & Anor

Mr Bryce was aware of the Freezing Order and its terms, failed to provide full and proper disclosure of his assets within the required time, failed to swear and serve an affidavit verifying his disclosure, and entered into a loan extension that diminished the equity in Saffron House, all in breach of the Order. These breaches were deliberate, serious, and amount to contempt of court, established beyond reasonable doubt.

Parties
Applicant/claimant in Arbitration: SIA Investment Industry; Respondent/defendant in Arbitration: Pardus Wealth Limited; Respondent/defendant in Arbitration: Gregory Robert Bryce
Jurisdiction
England and Wales
Judgment Date
31 October 2024
Procedural Posture
Arbitration Claim / Contempt Application / Judgment on Contempt Application (liability Only, Sentence Adjourned)
Outcome
Declaration of contempt of court against Mr Bryce; sentence adjourned for mitigation.
Legal Topics
Freezing Orders, Disclosure Obligations, Committal for Contempt, Asset Dissipation, Sanctions for Breach of Court Orders
Civil Procedure Arbitration Injunctions Contempt of Court Freezing Orders Disclosure Obligations Committal for Contempt Asset Dissipation +1 more

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 5 Authorities cited 20 Party arguments 2 Amounts and remedies 9
Sign in to unlock

Parties

SIA Investment Industry

Applicant/claimant in Arbitration

Pardus Wealth Limited

Respondent/defendant in Arbitration

Gregory Robert Bryce

Respondent/defendant in Arbitration

Procedural Posture

Arbitration Claim / Contempt Application / Judgment on Contempt Application (liability Only, Sentence Adjourned)

Legal Issues

  1. 1 Whether Mr Bryce breached the Freezing Order by failing to disclose assets as required (paragraph 8)
  2. 2 Whether Mr Bryce breached the Freezing Order by failing to swear and serve an affidavit (paragraph 10)
  3. 3 Whether Mr Bryce breached the Freezing Order by entering into a loan extension diminishing equity in Saffron House (paragraph 4(1))

Ratio Decidendi

Mr Bryce was aware of the Freezing Order and its terms, failed to provide full and proper disclosure of his assets within the required time, failed to swear and serve an affidavit verifying his disclosure, and entered into a loan extension that diminished the equity in Saffron House, all in breach of the Order. These breaches were deliberate, serious, and amount to contempt of court, established beyond reasonable doubt.

Court Disposition

Declaration of contempt of court against Mr Bryce; sentence adjourned for mitigation.

Orders

  • Mr Bryce declared to have committed contempt of court for breaches of paragraphs 4(1), 8, and 10 of the Freezing Order.
  • Sentence adjourned to a date to be fixed for mitigation and sanction.