St Vincent European General Partner Ltd v Robinson & Ors [2018] EWHC 1230 (Comm) (24 May 2018)

St Vincent European General Partner Ltd v Robinson & Ors [2018] EWHC 1230 (Comm) (24 May 2018)

St Vincent's claims have no real prospect of success because there was no valid or unconditional tender to redeem the pledged shares, no breach of duty by the defendants as pledgees/mortgagees, and the losses claimed are barred by the rule against reflective loss. The proposed amendments are futile and unduly late. Summary judgment is granted for the defendants and permission to re-amend is refused.

Citation
[2018] EWHC 1230 (Comm)
Parties
Claimant: ST VINCENT EUROPEAN GENERAL PARTNER LIMITED; Defendant: BRUCE ROBINSON; Defendant: WINTERBOURNE PTE LIMITED; Defendant: PPL WINTERBOURNE LIMITED; Defendant: POLAD LIMITED; Defendant: MOLYNEUX INVESTMENTS LIMITED; Defendant: THISTLE AVIATION LIMITED; Defendant: JENIFER COPELAND; Defendant: STEPHEN COPELAND; Defendant: JAMES HOSEASON; Defendant: DAVID TOMS; Defendant: ALASTAIR NICHOLSON (deceased, through the administrator of his estate, Alistair David John Nicholson Jr); Proposed Defendant: KOREA FUEL-TECH POLAND SP. Z. O. O.; Proposed Defendant: JOHN CLARKE; Proposed Defendant: MACDONALD & PARTNERS LIMITED; Proposed Defendant: PICTON JONES (ASSET MANAGEMENT) LIMITED; Proposed Defendant: HAUSSMANN DEVELOPMENTS POLSKA SP. Z. O. O.
Jurisdiction
England and Wales
Judgment Date
24 May 2018
Procedural Posture
Commercial Court Claim (strike Out/summary Judgment and Amendment Applications) / Interlocutory Applications: Strike Out/summary Judgment and Application to Re Amend Pleadings/add Parties
Outcome
Summary judgment for the defendants; claim struck out; permission to re-amend refused.
Legal Topics
Summary Judgment, Strike Out, Reflective Loss, Redemption of Security, Implied Terms, Constructive Trust, Conspiracy, Unjust Enrichment, Amendment of Pleadings
Commercial Law Equity and Trusts Company Law Civil Procedure Summary Judgment Strike Out Reflective Loss Redemption of Security +5 more

Case Brief

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Parties

ST VINCENT EUROPEAN GENERAL PARTNER LIMITED

Claimant

BRUCE ROBINSON

Defendant

WINTERBOURNE PTE LIMITED

Defendant

PPL WINTERBOURNE LIMITED

Defendant

POLAD LIMITED

Defendant

MOLYNEUX INVESTMENTS LIMITED

Defendant

THISTLE AVIATION LIMITED

Defendant

JENIFER COPELAND

Defendant

STEPHEN COPELAND

Defendant

JAMES HOSEASON

Defendant

DAVID TOMS

Defendant

ALASTAIR NICHOLSON (deceased, through the administrator of his estate, Alistair David John Nicholson Jr)

Defendant

KOREA FUEL-TECH POLAND SP. Z. O. O.

Proposed Defendant

JOHN CLARKE

Proposed Defendant

MACDONALD & PARTNERS LIMITED

Proposed Defendant

PICTON JONES (ASSET MANAGEMENT) LIMITED

Proposed Defendant

HAUSSMANN DEVELOPMENTS POLSKA SP. Z. O. O.

Proposed Defendant

Procedural Posture

Commercial Court Claim (strike Out/summary Judgment and Amendment Applications) / Interlocutory Applications: Strike Out/summary Judgment and Application to Re Amend Pleadings/add Parties

Legal Issues

  1. 1 Whether the claimant's claims should be struck out or summary judgment granted for the defendants due to lack of real prospect of success
  2. 2 Whether the claimant's losses are barred by the rule against reflective loss
  3. 3 Whether there was a valid tender of payment to redeem pledged shares

Ratio Decidendi

St Vincent's claims have no real prospect of success because there was no valid or unconditional tender to redeem the pledged shares, no breach of duty by the defendants as pledgees/mortgagees, and the losses claimed are barred by the rule against reflective loss. The proposed amendments are futile and unduly late. Summary judgment is granted for the defendants and permission to re-amend is refused.

Court Disposition

Summary judgment for the defendants; claim struck out; permission to re-amend refused.

Orders

  • Claim against the Robinson and Nicholson defendants struck out and/or summary judgment granted in their favour.
  • Permission to re-amend the Particulars of Claim and add new defendants refused.