Phoenix Group Foundation & Ors v Cochrane & Ors [2018] EWHC 2179 (Comm) (02 July 2018)

Phoenix Group Foundation & Ors v Cochrane & Ors [2018] EWHC 2179 (Comm) (02 July 2018)

Applicants failed to provide sufficient evidence of a good arguable case that losses alleged were caused by the freezing orders or that any risk of loss exceeded the existing £1 million fortification; application for further fortification dismissed.

Citation
[2018] EWHC 2179 (Comm)
Parties
Claimant: Phoenix Group Foundation; Claimant: Minardi Investments Limited; Defendant: Dr Gail Alison Cochrane; Defendant: Gerald Martin Smith; Defendant: Dawna Marie Stickler; Defendant: Anthony Paul Smith; Defendant: Litigation Capital Limited; Defendant: Chepstow Property Co. Limited; Defendant: Brynna Property Co. Limited; Defendant: Llanharan Property Co. Limited; Defendant: SCDS Corporation, Inc.; Defendant: Dunedin Holdings Limited; Defendant: Coegi Properties Limited; Defendant: Burtonwood Dev. Limited
Jurisdiction
England and Wales
Judgment Date
02 July 2018
Procedural Posture
Application for Fortification of Cross Undertaking in Damages / Post Freezing Order, Interlocutory
Outcome
Application dismissed
Legal Topics
Freezing Orders, Cross Undertaking in Damages, Fortification, Property Development Financing
Civil Procedure Injunctions Commercial Law Freezing Orders Cross Undertaking in Damages Fortification Property Development Financing

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Parties

Phoenix Group Foundation

Claimant

Minardi Investments Limited

Claimant

Dr Gail Alison Cochrane

Defendant

Gerald Martin Smith

Defendant

Dawna Marie Stickler

Defendant

Anthony Paul Smith

Defendant

Litigation Capital Limited

Defendant

Chepstow Property Co. Limited

Defendant

Brynna Property Co. Limited

Defendant

Llanharan Property Co. Limited

Defendant

SCDS Corporation, Inc.

Defendant

Dunedin Holdings Limited

Defendant

Coegi Properties Limited

Defendant

Burtonwood Dev. Limited

Defendant

Procedural Posture

Application for Fortification of Cross Undertaking in Damages / Post Freezing Order, Interlocutory

Legal Issues

  1. 1 Whether further fortification of the cross-undertaking in damages is required for non-cause of action defendants under freezing orders
  2. 2 Whether applicants have shown a good arguable case of risk of loss causally connected to the freezing orders

Ratio Decidendi

Applicants failed to provide sufficient evidence of a good arguable case that losses alleged were caused by the freezing orders or that any risk of loss exceeded the existing £1 million fortification; application for further fortification dismissed.

Court Disposition

Application dismissed