Contrarian Funds Llc v Lomas & Ors

Contrarian Funds Llc v Lomas & Ors

Contrarian failed to demonstrate good grounds for a further extension of time. It was aware of the administrators' position since August 2012, took no substantive steps to rebut it, and was dilatory in seeking information from Orange. The responsibility for obtaining evidence lay with Contrarian as assignee. Further delay would undermine the administration and prejudice other creditors. The administrators had already been generous in granting extensions.

Parties
Applicant: Contrarian Funds LLC; Respondent: Anthony Victor Lomas; Respondent: Steven Anthony Pearson; Respondent: Paul David Copley; Respondent: Russell Downs; Respondent: Julian Guy Parr
Jurisdiction
England and Wales
Judgment Date
23 May 2014
Procedural Posture
Insolvency Application / Ruling on Application for Extension of Time to Challenge Rejection of Proof of Debt
Outcome
Application dismissed
Legal Topics
Extension of Time, Proof of Debt, Administration of Insolvent Estate
Insolvency Civil Procedure Extension of Time Proof of Debt Administration of Insolvent Estate

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Parties

Contrarian Funds LLC

Applicant

Anthony Victor Lomas

Respondent

Steven Anthony Pearson

Respondent

Paul David Copley

Respondent

Russell Downs

Respondent

Julian Guy Parr

Respondent

Procedural Posture

Insolvency Application / Ruling on Application for Extension of Time to Challenge Rejection of Proof of Debt

Legal Issues

  1. 1 Whether the applicant should be granted a further extension of time to challenge the administrators' rejection of its proof of debt

Ratio Decidendi

Contrarian failed to demonstrate good grounds for a further extension of time. It was aware of the administrators' position since August 2012, took no substantive steps to rebut it, and was dilatory in seeking information from Orange. The responsibility for obtaining evidence lay with Contrarian as assignee. Further delay would undermine the administration and prejudice other creditors. The administrators had already been generous in granting extensions.

Court Disposition

Application dismissed

Orders

  • Application for further extension of time to challenge rejection of proof of debt is dismissed.