McKillen v Misland (Cyprus) Investments Ltd & Ors [2012] EWHC 505 (Ch) (28 February 2012)

McKillen v Misland (Cyprus) Investments Ltd & Ors [2012] EWHC 505 (Ch) (28 February 2012)

The petitioner is required to provide further information and specific disclosure regarding his ability and attempts to raise finance to purchase shares, as these matters are directly relevant to his pleaded case and the issues for trial. The disclosure must be subject to a confidentiality regime to protect sensitive financial information, and the scope of disclosure should be managed to avoid unnecessary burden, particularly regarding the petitioner's general indebtedness.

Citation
[2012] EWHC 505 (Ch)
Parties
Petitioner/claimant: Patrick McKillen; Respondent/defendant: Misland (Cyprus) Investments Limited; Respondent/defendant: Derek Quinlan; Respondent/defendant: Ellerman Corporation Limited; Respondent/defendant: B Overseas Limited; Respondent/defendant: Richard Faber; Respondent/defendant: Michael Seal; Respondent/defendant: Rigel Mowatt; Respondent: Coroin Limited; Defendant: Sir David Rowat Barclay; Defendant: Sir Frederick Hugh Barclay; Defendant: Maybourne Finance Limited; Defendant: The Trustees of the Sir David and Sir Frederick Barclay Family Settlements; Defendant: National Asset Loan Management Limited; Third Party: Barclays Bank plc; Non Party: Mrs. Siobhan Quinlan
Jurisdiction
England and Wales
Judgment Date
28 February 2012
Procedural Posture
Company Law Petition and Related Claim / Interlocutory Application for Further Information and Specific Disclosure
Outcome
Application granted in substantial part
Legal Topics
Disclosure, Further Information, Pre Emption Rights, Confidentiality in Litigation
Company Law Civil Procedure Disclosure Further Information Pre Emption Rights Confidentiality in Litigation

Case Brief

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Parties

Patrick McKillen

Petitioner/claimant

Misland (Cyprus) Investments Limited

Respondent/defendant

Derek Quinlan

Respondent/defendant

Ellerman Corporation Limited

Respondent/defendant

B Overseas Limited

Respondent/defendant

Richard Faber

Respondent/defendant

Michael Seal

Respondent/defendant

Rigel Mowatt

Respondent/defendant

Coroin Limited

Respondent

Sir David Rowat Barclay

Defendant

Sir Frederick Hugh Barclay

Defendant

Maybourne Finance Limited

Defendant

The Trustees of the Sir David and Sir Frederick Barclay Family Settlements

Defendant

National Asset Loan Management Limited

Defendant

Barclays Bank plc

Third Party

Mrs. Siobhan Quinlan

Non Party

Procedural Posture

Company Law Petition and Related Claim / Interlocutory Application for Further Information and Specific Disclosure

Legal Issues

  1. 1 Whether the petitioner must provide further information and specific disclosure regarding his ability and attempts to raise finance to purchase shares under pre-emption provisions
  2. 2 Scope and proportionality of disclosure regarding the petitioner's financial position
  3. 3 Appropriate confidentiality regime for sensitive financial information

Ratio Decidendi

The petitioner is required to provide further information and specific disclosure regarding his ability and attempts to raise finance to purchase shares, as these matters are directly relevant to his pleaded case and the issues for trial. The disclosure must be subject to a confidentiality regime to protect sensitive financial information, and the scope of disclosure should be managed to avoid unnecessary burden, particularly regarding the petitioner's general indebtedness.

Court Disposition

Application granted in substantial part

Orders

  • Petitioner to provide further information as specified regarding discussions with third parties, amounts sought, security, and terms for funding.
  • Petitioner to conduct a proper search and give standard disclosure by list of all documents in his control relating to his ability to fund or raise finance for the purchase of shares, limited to specified categories.