Carey Group Plc & Ors v AIB Group (UK) Plc & Anor

Carey Group Plc & Ors v AIB Group (UK) Plc & Anor

The claimants’ case discloses no arguable basis for breach of contract, as the Facility Agreement permits assignment to entities such as NAMA and allows AIB UK to terminate the overdraft facility before assignment. There is no legal basis to restrain NAMA from acting under the Irish Act within the jurisdiction, nor to grant declaratory relief, as no legal right of the claimants is infringed by the proposed acquisition or NAMA’s actions.

Parties
Claimant: Carey Group Plc; Claimant: PJ Carey (Contractors) Limited; Claimant: PJ Carey Plant Hire (Oval) Limited; Claimant: Seneca Environmental Solutions Limited; Defendant: AIB Group (UK) Plc; Defendant: National Asset Management Agency
Jurisdiction
England and Wales
Judgment Date
11 March 2011
Procedural Posture
Civil / Application to Strike Out Claim
Outcome
Claim struck out
Legal Topics
Assignment of Contractual Rights, Enforcement of Foreign Public Law, Declaratory Relief, Banking Facilities, Injunctions
Contract Law Conflict of Laws Assignment of Contractual Rights Enforcement of Foreign Public Law Declaratory Relief Banking Facilities Injunctions

Case Brief

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Parties

Carey Group Plc

Claimant

PJ Carey (Contractors) Limited

Claimant

PJ Carey Plant Hire (Oval) Limited

Claimant

Seneca Environmental Solutions Limited

Claimant

AIB Group (UK) Plc

Defendant

National Asset Management Agency

Defendant

Procedural Posture

Civil / Application to Strike Out Claim

Legal Issues

  1. 1 Whether the proposed acquisition of AIB UK’s rights under the Facility Agreement by NAMA would constitute a breach of contract
  2. 2 Whether the court should restrain NAMA from enforcing the Irish Act within the jurisdiction
  3. 3 Whether declaratory relief should be granted regarding the effect of the Irish Act on the Facility Agreement

Ratio Decidendi

The claimants’ case discloses no arguable basis for breach of contract, as the Facility Agreement permits assignment to entities such as NAMA and allows AIB UK to terminate the overdraft facility before assignment. There is no legal basis to restrain NAMA from acting under the Irish Act within the jurisdiction, nor to grant declaratory relief, as no legal right of the claimants is infringed by the proposed acquisition or NAMA’s actions.

Court Disposition

Claim struck out

Orders

  • The claim form and particulars of claim are struck out in their entirety.