Bank & Clients Plc v King & Anor [2017] EWHC 3099 (Comm) (01 December 2017)

Bank & Clients Plc v King & Anor [2017] EWHC 3099 (Comm) (01 December 2017)

The defendants have no real prospect of successfully defending the claim under the personal guarantees as the alleged representations are unsupported, inconsistent with the documents, and fail as a matter of law. The Bank is entitled to summary judgment for the debt. There is sufficient evidence of risk of dissipation of assets to justify a worldwide freezing injunction, notwithstanding the defendants' bankruptcy proceedings.

Citation
[2017] EWHC 3099 (Comm)
Parties
Claimant: Bank and Clients PLC; First Defendant: Martin Adrian King; Second Defendant: David Joseph Brown
Jurisdiction
England and Wales
Judgment Date
01 December 2017
Procedural Posture
Commercial Debt Claim and Application for Freezing Injunction / Summary Judgment and Application for Worldwide Freezing Injunction
Outcome
Summary judgment granted for the claimant; worldwide freezing injunction granted against both defendants.
Legal Topics
Personal Guarantees, Summary Judgment, Freezing Injunctions, Bankruptcy, Misrepresentation, Enforcement of Security
Commercial Law Banking Law Insolvency Law Personal Guarantees Summary Judgment Freezing Injunctions Bankruptcy Misrepresentation +1 more

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Parties

Bank and Clients PLC

Claimant

Martin Adrian King

First Defendant

David Joseph Brown

Second Defendant

Procedural Posture

Commercial Debt Claim and Application for Freezing Injunction / Summary Judgment and Application for Worldwide Freezing Injunction

Legal Issues

  1. 1 Whether the defendants have a real prospect of successfully defending the claim under personal guarantees
  2. 2 Whether summary judgment should be granted for the debt claimed
  3. 3 Whether a worldwide freezing injunction should be granted against the defendants

Ratio Decidendi

The defendants have no real prospect of successfully defending the claim under the personal guarantees as the alleged representations are unsupported, inconsistent with the documents, and fail as a matter of law. The Bank is entitled to summary judgment for the debt. There is sufficient evidence of risk of dissipation of assets to justify a worldwide freezing injunction, notwithstanding the defendants' bankruptcy proceedings.

Court Disposition

Summary judgment granted for the claimant; worldwide freezing injunction granted against both defendants.

Orders

  • Judgment for the claimant in the sum of £3,540,304.77 against each defendant, not to be enforced without leave of the Trustee(s) in Bankruptcy or the Court.
  • Defendants restrained from removing from England and Wales any assets up to £3,540,304.77 and from disposing of or dealing with assets up to that value worldwide.