Lendy Ltd v Brooke & Ors

Lendy Ltd v Brooke & Ors

There is a good arguable case of misappropriation of funds by the first and second defendants, a real risk of dissipation of assets, and a prima facie link between the misappropriated funds and the properties in question, justifying the grant of both a freezing order and a proprietary injunction.

Parties
Applicant / Intended Claimant: Lendy Limited (In Administration); Respondent / Intended Defendant: Liam Brooke; Respondent / Intended Defendant: Tim Gordon; Respondent / Intended Defendant: LP Alhambra Limited; Respondent / Intended Defendant: RFP Holdings Limited
Jurisdiction
England and Wales
Judgment Date
02 June 2020
Procedural Posture
Interlocutory Application for Freezing Order and Proprietary Injunction / Hearing and Determination of Interim Relief Application
Outcome
Application granted
Legal Topics
Freezing Injunction, Proprietary Injunction, Director Misappropriation, Breach of Fiduciary Duty, Tracing of Assets
Civil Procedure Company Law Equity and Trusts Freezing Injunction Proprietary Injunction Director Misappropriation Breach of Fiduciary Duty Tracing of Assets

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Parties

Lendy Limited (In Administration)

Applicant / Intended Claimant

Liam Brooke

Respondent / Intended Defendant

Tim Gordon

Respondent / Intended Defendant

LP Alhambra Limited

Respondent / Intended Defendant

RFP Holdings Limited

Respondent / Intended Defendant

Procedural Posture

Interlocutory Application for Freezing Order and Proprietary Injunction / Hearing and Determination of Interim Relief Application

Legal Issues

  1. 1 Whether there is a good arguable case for a freezing order against the first and second defendants
  2. 2 Whether there is a real risk of dissipation of assets justifying a freezing order
  3. 3 Whether there is a serious issue to be tried for a proprietary injunction over certain properties

Ratio Decidendi

There is a good arguable case of misappropriation of funds by the first and second defendants, a real risk of dissipation of assets, and a prima facie link between the misappropriated funds and the properties in question, justifying the grant of both a freezing order and a proprietary injunction.

Court Disposition

Application granted

Orders

  • Freezing order granted against the first and second defendants, including worldwide assets.
  • Proprietary injunction granted against the first, third, and fourth defendants over specified properties.