Beveridge & Anor v Quinlan& Ors

Beveridge & Anor v Quinlan& Ors

Receivers are entitled, by virtue of their appointment and the terms of the security documents, to receive payment of sums owed to defendants by Ramblas in respect of the Shareholder Loans and to use the defendants' names to collect such sums. Defendants are required to execute notices before a Spanish notary confirming payment to receivers, as this falls within clause 13 of the SCSA and is reasonable given the Spanish Insolvency Administrator's requirements.

Parties
Claimant: Alastair Paul Beveridge; Claimant: Stuart Charles Edward Mackellar; Defendant: Derek Quinlan; Defendant: Glenn Maud; Defendant: Cruz Holdings Limited
Jurisdiction
England and Wales
Judgment Date
21 February 2019
Procedural Posture
Part 8 Claim / Expedited Trial, Judgment
Outcome
Declaratory and mandatory injunctive relief granted; section 39 relief refused at this stage.
Legal Topics
Receivership, Security Interests, Subordination Agreements, Declaratory Relief, Mandatory Injunction
Commercial Law Insolvency Law Banking Law Receivership Security Interests Subordination Agreements Declaratory Relief Mandatory Injunction

Case Brief

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Parties

Alastair Paul Beveridge

Claimant

Stuart Charles Edward Mackellar

Claimant

Derek Quinlan

Defendant

Glenn Maud

Defendant

Cruz Holdings Limited

Defendant

Procedural Posture

Part 8 Claim / Expedited Trial, Judgment

Legal Issues

  1. 1 Whether receivers are entitled to receive payment of sums owed to defendants by Ramblas in respect of shareholder loans
  2. 2 Whether defendants are required to execute notices confirming payment to receivers
  3. 3 Appropriateness of mandatory injunction and declaratory relief

Ratio Decidendi

Receivers are entitled, by virtue of their appointment and the terms of the security documents, to receive payment of sums owed to defendants by Ramblas in respect of the Shareholder Loans and to use the defendants' names to collect such sums. Defendants are required to execute notices before a Spanish notary confirming payment to receivers, as this falls within clause 13 of the SCSA and is reasonable given the Spanish Insolvency Administrator's requirements.

Court Disposition

Declaratory and mandatory injunctive relief granted; section 39 relief refused at this stage.

Orders

  • Declaration that receivers are entitled to receive payment of sums owed to defendants by Ramblas in respect of shareholder loans and to use defendants' names to collect such sums.
  • Mandatory injunction requiring defendants to execute notices before a Spanish notary confirming payment to receivers.