Barons Finance Ltd v Barons Bridging Finance 1 Ltd & Anor

Barons Finance Ltd v Barons Bridging Finance 1 Ltd & Anor

Mr Gopee had no relevant interest in the proceedings as any assignments to him were void under section 127 of the Insolvency Act 1986, and he had no standing to act for the companies. The Judge was justified in allowing Finance to discontinue against him and refusing an adjournment.

Parties
Claimant/respondent: Barons Finance Limited; Defendant/respondent: Barons Bridging Finance 1 Limited; Defendant/respondent: Reddy Corporation Limited; Defendant/appellant: Dharam Prakash Gopee
Jurisdiction
England and Wales
Judgment Date
26 November 2019
Procedural Posture
Civil Appeal / Court of Appeal Judgment
Outcome
Appeal dismissed
Legal Topics
Winding Up, Void Transactions, Discontinuance, Costs, Adjournment, Assignment of Assets
Insolvency Company Law Civil Procedure Winding Up Void Transactions Discontinuance Costs Adjournment +1 more

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Parties

Barons Finance Limited

Claimant/respondent

Barons Bridging Finance 1 Limited

Defendant/respondent

Reddy Corporation Limited

Defendant/respondent

Dharam Prakash Gopee

Defendant/appellant

Procedural Posture

Civil Appeal / Court of Appeal Judgment

Legal Issues

  1. 1 Whether the deed of assignment was void under section 127 of the Insolvency Act 1986
  2. 2 Whether Finance could discontinue against Mr Gopee and the costs consequences
  3. 3 Whether Mr Gopee had standing or relevant interest in the proceedings

Ratio Decidendi

Mr Gopee had no relevant interest in the proceedings as any assignments to him were void under section 127 of the Insolvency Act 1986, and he had no standing to act for the companies. The Judge was justified in allowing Finance to discontinue against him and refusing an adjournment.

Court Disposition

Appeal dismissed

Orders

  • Proceedings discontinued against Mr Gopee
  • Finance to pay Mr Gopee’s costs for his personal defence