Polly Peck International Plc v Nadir & Ors

Polly Peck International Plc v Nadir & Ors

Patten J's order, with Polly Peck's consent as recorded in the recital, effectively released the £61,000 from the Mareva injunction, permitting payment to Mr Nadir's solicitors for legal fees. The consent was general and not restricted to employer capacity. Discretion to vary the Mareva was not exercised due to lack of evidence, but the prior order and consent sufficed to authorise payment.

Parties
Claimant: Polly Peck International PLC (In Administration); Defendant: Asil Nadir; Defendant: Others
Jurisdiction
England and Wales
Judgment Date
25 January 2006
Procedural Posture
Application / Judgment
Outcome
application granted
Legal Topics
Mareva Injunction, Variation of Freezing Order, Payment of Legal Costs From Frozen Assets, Bankruptcy, Consent to Compromise
Civil Procedure Insolvency Injunctions Mareva Injunction Variation of Freezing Order Payment of Legal Costs From Frozen Assets Bankruptcy Consent to Compromise

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Parties

Polly Peck International PLC (In Administration)

Claimant

Asil Nadir

Defendant

Others

Defendant

Procedural Posture

Application / Judgment

Legal Issues

  1. 1 Whether Patten J's order freed £61,000 from Mareva injunction
  2. 2 Whether the Mareva order should be varied to allow payment for legal fees
  3. 3 Whether discretion should be exercised to permit payment out of frozen funds

Ratio Decidendi

Patten J's order, with Polly Peck's consent as recorded in the recital, effectively released the £61,000 from the Mareva injunction, permitting payment to Mr Nadir's solicitors for legal fees. The consent was general and not restricted to employer capacity. Discretion to vary the Mareva was not exercised due to lack of evidence, but the prior order and consent sufficed to authorise payment.

Court Disposition

application granted

Orders

  • Payment of £61,000 and accrued interest standing in Lane & Partners client account to the credit of Mr Nadir is authorised to be paid to Lane & Partners by way of satisfaction pro tanto of legal costs and disbursements owed to Mr Nadir's solicitors.