BCS Corporate Acceptances Ltd & Ors v Terry & Anor

BCS Corporate Acceptances Ltd & Ors v Terry & Anor

There was no material non-disclosure affecting the grant of the freezing injunction. Evidence established a real risk of dissipation by Mr Terry, justifying continuation of the order against him and specification of certain assets. The order against Ms Drewett was improper as no proceedings or risk of dissipation existed regarding her assets; it is discharged ab initio.

Parties
Applicant: BCS Corporate Acceptances Limited; Applicant: BCS Offshore Funding Limited; Applicant: Mr John Taylor; Respondent: Mr Daniel Terry; Respondent: Ms Sharon Lynette Drewett
Jurisdiction
England and Wales
Judgment Date
11 March 2016
Procedural Posture
Freezing Injunction / Return Date Hearing
Outcome
Order against Ms Drewett discharged ab initio; order against Mr Terry continued.
Legal Topics
Freezing Injunctions, Non Disclosure, Risk of Dissipation, Third Party Asset Freezing, Proprietary Vs in Personam Relief
Civil Procedure Insolvency Property Law Freezing Injunctions Non Disclosure Risk of Dissipation Third Party Asset Freezing Proprietary Vs in Personam Relief

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Parties

BCS Corporate Acceptances Limited

Applicant

BCS Offshore Funding Limited

Applicant

Mr John Taylor

Applicant

Mr Daniel Terry

Respondent

Ms Sharon Lynette Drewett

Respondent

Procedural Posture

Freezing Injunction / Return Date Hearing

Legal Issues

  1. 1 Was there material non-disclosure at the without notice hearing?
  2. 2 Is there a real risk of dissipation of assets by Mr Terry?
  3. 3 Is it just and convenient to continue the order against Mr Terry?

Ratio Decidendi

There was no material non-disclosure affecting the grant of the freezing injunction. Evidence established a real risk of dissipation by Mr Terry, justifying continuation of the order against him and specification of certain assets. The order against Ms Drewett was improper as no proceedings or risk of dissipation existed regarding her assets; it is discharged ab initio.

Court Disposition

Order against Ms Drewett discharged ab initio; order against Mr Terry continued.

Orders

  • Order against Ms Drewett discharged ab initio.
  • No fresh order against Ms Drewett unless new risk of dissipation arises.