Catalyst Business Finance Ltd v Very Tangy Television Ltd & Ors [2018] EWHC 1669 (QB) (04 May 2018)

Catalyst Business Finance Ltd v Very Tangy Television Ltd & Ors [2018] EWHC 1669 (QB) (04 May 2018)

The personal guarantee given by Mr Tuckwell imposes a primary obligation to indemnify Catalyst against losses arising from the borrower's default. The certificate of indebtedness issued by Catalyst is conclusive evidence of both liability and quantum, absent manifest error or error of law. There is no real prospect of Mr Tuckwell successfully defending the claim, and summary judgment is appropriate.

Citation
[2018] EWHC 1669 (QB)
Parties
Claimant: Catalyst Business Finance Limited; First Defendant: Very Tangy Television Limited; Second Defendant: Richard Tuckwell; Third Defendant: Very Tangy Media Limited
Jurisdiction
England and Wales
Judgment Date
04 May 2018
Procedural Posture
Summary Judgment Application / High Court, Queen's Bench Division, Summary Judgment Hearing
Outcome
Summary judgment granted against the second defendant (Mr Richard Tuckwell) in favour of the claimant (Catalyst Business Finance Limited).
Legal Topics
Personal Guarantee, Indemnity, Loan Agreement, Summary Judgment, Conclusive Evidence Clause
Contract Law Banking and Finance Law Personal Guarantee Indemnity Loan Agreement Summary Judgment Conclusive Evidence Clause

Case Brief

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Parties

Catalyst Business Finance Limited

Claimant

Very Tangy Television Limited

First Defendant

Richard Tuckwell

Second Defendant

Very Tangy Media Limited

Third Defendant

Procedural Posture

Summary Judgment Application / High Court, Queen's Bench Division, Summary Judgment Hearing

Legal Issues

  1. 1 Whether the personal guarantee imposes primary or secondary liability on the guarantor
  2. 2 Whether the certificate of indebtedness is conclusive as to liability and quantum
  3. 3 Whether there is any real prospect of the defendant successfully defending the claim

Ratio Decidendi

The personal guarantee given by Mr Tuckwell imposes a primary obligation to indemnify Catalyst against losses arising from the borrower's default. The certificate of indebtedness issued by Catalyst is conclusive evidence of both liability and quantum, absent manifest error or error of law. There is no real prospect of Mr Tuckwell successfully defending the claim, and summary judgment is appropriate.

Court Disposition

Summary judgment granted against the second defendant (Mr Richard Tuckwell) in favour of the claimant (Catalyst Business Finance Limited).

Orders

  • Mr Tuckwell is to pay the sum certified as due under the certificate of indebtedness, plus interest and costs as determined.