The Claimants set out In Schedule 1 To the Claim Form v Spence & Ors [2021] EWHC 925 (Comm) (16 April 2021)

The Claimants set out In Schedule 1 To the Claim Form v Spence & Ors [2021] EWHC 925 (Comm) (16 April 2021)

The First Defendant has shown a good arguable case that he will suffer loss in consequence of the making of the Freezing Order, justifying additional fortification. The likely amount of loss is estimated at £800,000, to be provided in addition to the existing £500,000 insurance policy.

Citation
[2021] EWHC 925 (Comm)
Parties
Claimant/respondent: The Claimants set out in Schedule 1 to the Claim Form; Defendant/applicant: Nicholas Spence; Defendant/applicant: Derek Kewley; Defendant/applicant: Andrew Crump; Defendant/applicant: Emerging Property Investments Limited (in Liquidation); Defendant/applicant: Emerging Property Limited; Defendant/applicant: Green Park Holdings (Ilfracombe) Limited; Defendant/applicant: GP Ilfracombe Management Company Limited; Defendant/applicant: Green Parks (Westward Ho!) Management Company Limited; Defendant/applicant: Alpha Properties (Bradford) Limited; Defendant/applicant: A1 Properties (Sunderland) Limited
Jurisdiction
England and Wales
Judgment Date
16 April 2021
Procedural Posture
Commercial Court Application / Interlocutory Application to Vary Fortification of Freezing Order
Outcome
Application granted in part
Legal Topics
Freezing Injunctions, Fortification of Undertakings, Interlocutory Relief, Risk of Loss, Banking Facilities
Civil Procedure Commercial Law Freezing Injunctions Fortification of Undertakings Interlocutory Relief Risk of Loss Banking Facilities

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Parties

The Claimants set out in Schedule 1 to the Claim Form

Claimant/respondent

Nicholas Spence

Defendant/applicant

Derek Kewley

Defendant/applicant

Andrew Crump

Defendant/applicant

Emerging Property Investments Limited (in Liquidation)

Defendant/applicant

Emerging Property Limited

Defendant/applicant

Green Park Holdings (Ilfracombe) Limited

Defendant/applicant

GP Ilfracombe Management Company Limited

Defendant/applicant

Green Parks (Westward Ho!) Management Company Limited

Defendant/applicant

Alpha Properties (Bradford) Limited

Defendant/applicant

A1 Properties (Sunderland) Limited

Defendant/applicant

Procedural Posture

Commercial Court Application / Interlocutory Application to Vary Fortification of Freezing Order

Legal Issues

  1. 1 Whether the defendants have shown a good arguable case that they will suffer loss as a consequence of the freezing order
  2. 2 Whether additional fortification should be ordered and in what amount

Ratio Decidendi

The First Defendant has shown a good arguable case that he will suffer loss in consequence of the making of the Freezing Order, justifying additional fortification. The likely amount of loss is estimated at £800,000, to be provided in addition to the existing £500,000 insurance policy.

Court Disposition

Application granted in part

Orders

  • Claimants to provide additional fortification in the sum of £800,000 in addition to the existing £500,000 insurance policy.
  • Form of additional fortification to be agreed between parties; if not agreed, to be determined at a consequential hearing.