AMC III Purple BV v Amethyst Radiotherapy Ltd [2019] EWHC 1503 (Comm) (14 June 2019)

AMC III Purple BV v Amethyst Radiotherapy Ltd [2019] EWHC 1503 (Comm) (14 June 2019)

The Claimant is entitled to summary judgment because the Defendant's non-payment of interest and principal under the MFA and SLA constituted Events of Default, the agreements' no set-off clauses preclude any set-off or deduction, the SLA is not subordinated so as to postpone repayment, and there is no arguable...

Source-derived case information.

Citation
[2019] EWHC 1503 (Comm)
Parties
Claimant: AMC III Purple B. V.; Defendant: Amethyst Radiotherapy Limited
Jurisdiction
England and Wales
Judgment Date
14 June 2019
Procedural Posture
Commercial Court Summary Judgment Application / Summary Judgment; Cross Application for Stay
Outcome
Summary judgment granted for the Claimant; cross-applications for stay refused.
Legal Topics
Summary Judgment, Loan Agreements, Events of Default, No Set Off Clauses, Stay of Proceedings, Arbitration and Court Jurisdiction
Commercial Law Contract Law Banking and Finance Summary Judgment Loan Agreements Events of Default No Set Off Clauses Stay of Proceedings +1 more

Source-derived case record

Summary, issues, holding and outcome

More case intelligence is available

Unlock the full research layer for this judgment.

Full judgment text Downloadable case file Legal principles 4 Authorities cited 10 Party arguments 2 Amounts and remedies 3
Sign in to unlock

Parties

AMC III Purple B. V.

Claimant

Amethyst Radiotherapy Limited

Defendant

Procedural Posture

Commercial Court Summary Judgment Application / Summary Judgment; Cross Application for Stay

Legal Issues

  1. 1 Whether summary judgment should be granted for unpaid interest under the MFA and principal and interest under the SLA
  2. 2 Whether Events of Default occurred under the MFA and SLA
  3. 3 Whether the Defendant can set off alleged cross-claims against sums due under the MFA and SLA

Ratio Decidendi

The Claimant is entitled to summary judgment because the Defendant's non-payment of interest and principal under the MFA and SLA constituted Events of Default, the agreements' no set-off clauses preclude any set-off or deduction, the SLA is not subordinated so as to postpone repayment, and there is no arguable defence or special circumstance justifying a stay of proceedings or enforcement.

Court Disposition

Summary judgment granted for the Claimant; cross-applications for stay refused.

Orders

  • Declaration of Events of Default under MFA and SLA
  • Order for payment of outstanding interest under MFA (€296,407.07)