BTI 2014 LLC v Sequana S.A. Antoine & Ors [2017] EWHC 1339 (Ch) (02 June 2017)

BTI 2014 LLC v Sequana S.A. Antoine & Ors [2017] EWHC 1339 (Ch) (02 June 2017)

The stay of execution granted by Rose J. is revoked because the subsequent imposition of an automatic moratorium under the French sauvegarde proceeding constitutes a material change of circumstances, rendering the English stay unnecessary. The original risk that Sequana's appeal would be stifled no longer exists, and the stay achieves nothing further. Sequana retains liberty to apply for a stay in the future if circumstances change.

Citation
[2017] EWHC 1339 (Ch)
Parties
Claimant: BTI 2014 LLC; Defendant: SEQUANA S. A.; Defendant: ANTOINE COUREAULT; Defendant: PIERRE MARTINET; Defendant: CLIVE MOUNTFORD; Defendant: MARTIN NEWELL; Applicant: BAT Industries plc
Jurisdiction
England and Wales
Judgment Date
02 June 2017
Procedural Posture
Civil / Post Judgment Application to Revoke Stay of Execution
Outcome
Stay of execution revoked; date for performance of obligations specified; liberty to apply granted; BAT to provide undertaking not to enforce within 28 days if sauvegarde fails.
Legal Topics
Stay of Execution, Change of Circumstances, Non Disclosure, Insolvency Proceedings, Moratorium, Revocation of Orders
Insolvency Civil Procedure Stay of Execution Change of Circumstances Non Disclosure Insolvency Proceedings Moratorium Revocation of Orders

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Parties

BTI 2014 LLC

Claimant

SEQUANA S. A.

Defendant

ANTOINE COUREAULT

Defendant

PIERRE MARTINET

Defendant

CLIVE MOUNTFORD

Defendant

MARTIN NEWELL

Defendant

BAT Industries plc

Applicant

Procedural Posture

Civil / Post Judgment Application to Revoke Stay of Execution

Legal Issues

  1. 1 Whether the stay of execution granted by Rose J. should be revoked under CPR Part 3.1(7) due to a material change of circumstances or non-disclosure
  2. 2 Whether the French sauvegarde proceedings and resulting moratorium render the English stay otiose
  3. 3 Whether BAT or Sequana would suffer prejudice if the stay is lifted

Ratio Decidendi

The stay of execution granted by Rose J. is revoked because the subsequent imposition of an automatic moratorium under the French sauvegarde proceeding constitutes a material change of circumstances, rendering the English stay unnecessary. The original risk that Sequana's appeal would be stifled no longer exists, and the stay achieves nothing further. Sequana retains liberty to apply for a stay in the future if circumstances change.

Court Disposition

Stay of execution revoked; date for performance of obligations specified; liberty to apply granted; BAT to provide undertaking not to enforce within 28 days if sauvegarde fails.

Orders

  • Paragraph 2.6 of Rose J.'s order (stay of execution) is revoked.
  • Liberty to apply for a future stay is granted to Sequana.