Christine Mary Laverty & Ors v Greensill Bank AG & Anor

Christine Mary Laverty & Ors v Greensill Bank AG & Anor

CPR Part 36 applies to hostile insolvency proceedings between officeholders under rule 12.1. The Part 36 offer made by Greensill AG was not subject to a condition precedent requiring a court determination, was validly accepted by Greensill UK before withdrawal, and there was no mismatch between offer and acceptance. The proceedings are therefore subject to the consequences of a validly accepted Part 36 offer.

Parties
Applicant/respondent: Christine Mary Laverty; Applicant/respondent: Russell Simpson; Applicant/respondent: William Stagg; Respondent/applicant: Greensill Bank AG; Respondent/applicant: Dr Michael Frege
Jurisdiction
England and Wales
Judgment Date
11 October 2024
Procedural Posture
Insolvency Application / Ruling on Preliminary Applications Regarding Applicability of CPR Part 36 and Acceptance of Offer
Outcome
application by Greensill UK succeeds; cross-application by Greensill AG fails on main points; further issues (mistake, Ex Parte James) reserved for later determination
Legal Topics
Applicability of CPR Part 36 in Insolvency Proceedings, Construction of Part 36 Offers, Adversarial Versus Non Adversarial Proceedings, Costs Consequences Under Part 36
Insolvency Law Civil Procedure Applicability of CPR Part 36 in Insolvency Proceedings Construction of Part 36 Offers Adversarial Versus Non Adversarial Proceedings Costs Consequences Under Part 36

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Parties

Christine Mary Laverty

Applicant/respondent

Russell Simpson

Applicant/respondent

William Stagg

Applicant/respondent

Greensill Bank AG

Respondent/applicant

Dr Michael Frege

Respondent/applicant

Procedural Posture

Insolvency Application / Ruling on Preliminary Applications Regarding Applicability of CPR Part 36 and Acceptance of Offer

Legal Issues

  1. 1 Does CPR Part 36 apply to hostile insolvency applications between officeholders?
  2. 2 Was the Part 36 offer made by Greensill AG validly accepted by Greensill UK?
  3. 3 Was the offer subject to a condition precedent requiring a court determination on Part 36's applicability?

Ratio Decidendi

CPR Part 36 applies to hostile insolvency proceedings between officeholders under rule 12.1. The Part 36 offer made by Greensill AG was not subject to a condition precedent requiring a court determination, was validly accepted by Greensill UK before withdrawal, and there was no mismatch between offer and acceptance. The proceedings are therefore subject to the consequences of a validly accepted Part 36 offer.

Court Disposition

application by Greensill UK succeeds; cross-application by Greensill AG fails on main points; further issues (mistake, Ex Parte James) reserved for later determination

Orders

  • Declaration that CPR Part 36 applies to these proceedings
  • Declaration that the Part 36 offer was validly accepted and binds the parties