Tower Taxi Technology Llp & Ors v Marsden & Anor [2005] EWCA Civ 1503 (14 October 2005)

Tower Taxi Technology Llp & Ors v Marsden & Anor [2005] EWCA Civ 1503 (14 October 2005)

The petition was premature because negotiations with Cabvision were ongoing and could result in the LLP acquiring and exploiting the ICT software as originally intended. The substratum of the LLP had not gone at the date of the petition, so the petition had no realistic prospect of success and was properly struck out.

Citation
[2005] EWCA Civ 1503
Parties
Applicants/respondents: Tower Taxi Technology LLP and Others; Respondents/appellants: Stephen Richard Marsden; Respondents/appellants: Simon Alan Smith
Jurisdiction
England and Wales
Judgment Date
14 October 2005
Procedural Posture
Appeal From High Court (chancery Division) Winding Up Petition / Appeal Judgment
Outcome
Appeal dismissed
Legal Topics
Winding Up on Just and Equitable Ground, Limited Liability Partnerships, Loss of Substratum, Striking Out Petitions
Insolvency Company Law Winding Up on Just and Equitable Ground Limited Liability Partnerships Loss of Substratum Striking Out Petitions

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Parties

Tower Taxi Technology LLP and Others

Applicants/respondents

Stephen Richard Marsden

Respondents/appellants

Simon Alan Smith

Respondents/appellants

Procedural Posture

Appeal From High Court (chancery Division) Winding Up Petition / Appeal Judgment

Legal Issues

  1. 1 Whether the substratum of the LLP had gone so as to justify winding up on just and equitable grounds
  2. 2 Whether the petition was premature and had no realistic prospect of success

Ratio Decidendi

The petition was premature because negotiations with Cabvision were ongoing and could result in the LLP acquiring and exploiting the ICT software as originally intended. The substratum of the LLP had not gone at the date of the petition, so the petition had no realistic prospect of success and was properly struck out.

Court Disposition

Appeal dismissed

Orders

  • Appeal dismissed
  • Costs summarily assessed in the sum of £8,500