Oyston & Anor v Rubin & Anor

Oyston & Anor v Rubin & Anor

The receivers' fees are inclusive of VAT, disbursements invoiced to DRP are recoverable, the cap on fees is 5% of realisations necessary to discharge the judgment debt as at the date of receivership, fees and disbursements incurred during receivership but unpaid at discharge are recoverable, agents' fees for non-residential properties are not recoverable as disbursements but residential agents' fees are, pre-appointment costs are not recoverable, post-receivership costs are recoverable but not subject to the cap, and no line-by-line assessment is warranted as costs are justified and properly documented.

Parties
Claimant/respondent: Owen Oyston; Claimant/respondent: Denaxe Limited (formerly Blackpool Football Club (Properties) Limited); Defendant/applicant: David Rubin; Defendant/applicant: Paul Cooper
Jurisdiction
England and Wales
Judgment Date
04 May 2021
Procedural Posture
Receivership/account/declaratory Relief / Final Judgment on Declaration Application, Account, and Remuneration
Outcome
Receivers' application for declaratory relief granted in substantial part; claimants' claim for account and surcharge largely dismissed.
Legal Topics
Court Appointed Receivers, Remuneration of Receivers, Priority of Payments, Recovery of Costs, Lien Over Assets, Assessment of Fees, Disbursements, VAT on Fees
Commercial Law Insolvency Law Receivership Court Appointed Receivers Remuneration of Receivers Priority of Payments Recovery of Costs Lien Over Assets +3 more

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Parties

Owen Oyston

Claimant/respondent

Denaxe Limited (formerly Blackpool Football Club (Properties) Limited)

Claimant/respondent

David Rubin

Defendant/applicant

Paul Cooper

Defendant/applicant

Procedural Posture

Receivership/account/declaratory Relief / Final Judgment on Declaration Application, Account, and Remuneration

Legal Issues

  1. 1 Are the receivers' fees inclusive or exclusive of VAT?
  2. 2 Are disbursements invoiced to DRP, and not to the receivers personally, recoverable?
  3. 3 What is the correct calculation of the cap on receivers' fees?

Ratio Decidendi

The receivers' fees are inclusive of VAT, disbursements invoiced to DRP are recoverable, the cap on fees is 5% of realisations necessary to discharge the judgment debt as at the date of receivership, fees and disbursements incurred during receivership but unpaid at discharge are recoverable, agents' fees for non-residential properties are not recoverable as disbursements but residential agents' fees are, pre-appointment costs are not recoverable, post-receivership costs are recoverable but not subject to the cap, and no line-by-line assessment is warranted as costs are justified and properly documented.

Court Disposition

Receivers' application for declaratory relief granted in substantial part; claimants' claim for account and surcharge largely dismissed.

Orders

  • Receivers entitled to recover fees and disbursements as determined, subject to cap and exceptions.
  • Receivers to submit draft order for agreement; outstanding matters to be resolved at further hearing.