Speed Investments Ltd & Anor v Formula One Holdings Ltd & Ors

Speed Investments Ltd & Anor v Formula One Holdings Ltd & Ors

The subject matter of the English proceedings is the composition of the board of directors of Formula One Holdings Limited and rectification of its register of directors, both of which fall within the exclusive jurisdiction of the English courts under Article 22(2) and (3) of the Judgments Regulation (and Article 16 of the Lugano Convention). The existence of a contractual background does not displace this exclusive jurisdiction. As regards the Argands, although the Swiss court was first seised, the English court's exclusive jurisdiction prevails and it need not defer to the Swiss court. Both jurisdictional challenges fail.

Parties
Claimant: Speed Investments Limited; Claimant: SLEC Holdings Limited; Defendant: Formula One Holdings Limited; Defendant: Bambino Holdings Limited; Defendant: Luc Argand; Defendant: Emmanuele Argand
Jurisdiction
England and Wales
Judgment Date
20 July 2004
Procedural Posture
Jurisdictional Challenge / Judgment on Applications Disputing Jurisdiction
Outcome
Applications disputing jurisdiction dismissed
Legal Topics
Jurisdiction Under Judgments Regulation and Lugano Convention, Exclusive Jurisdiction for Company Matters, Rectification of Register of Directors, Interpretation of Shareholders Agreements
Private International Law Company Law Civil Procedure Jurisdiction Under Judgments Regulation and Lugano Convention Exclusive Jurisdiction for Company Matters Rectification of Register of Directors Interpretation of Shareholders Agreements

Case Brief

Summary, issues, holding and outcome

More case intelligence is available

Unlock the full research layer for this judgment.

Full judgment text Downloadable case file Legal principles 4 Authorities cited 14 Party arguments 2
Sign in to unlock

Parties

Speed Investments Limited

Claimant

SLEC Holdings Limited

Claimant

Formula One Holdings Limited

Defendant

Bambino Holdings Limited

Defendant

Luc Argand

Defendant

Emmanuele Argand

Defendant

Procedural Posture

Jurisdictional Challenge / Judgment on Applications Disputing Jurisdiction

Legal Issues

  1. 1 Whether the English court has jurisdiction over the dispute regarding the composition of the board of directors of Formula One Holdings Limited under the Judgments Regulation and Lugano Convention
  2. 2 Whether the claims fall within the exclusive jurisdiction provisions for company matters and public registers
  3. 3 Whether the Swiss court or the English court is first seised for the purposes of lis pendens rules

Ratio Decidendi

The subject matter of the English proceedings is the composition of the board of directors of Formula One Holdings Limited and rectification of its register of directors, both of which fall within the exclusive jurisdiction of the English courts under Article 22(2) and (3) of the Judgments Regulation (and Article 16 of the Lugano Convention). The existence of a contractual background does not displace this exclusive jurisdiction. As regards the Argands, although the Swiss court was first seised, the English court's exclusive jurisdiction prevails and it need not defer to the Swiss court. Both jurisdictional challenges fail.

Court Disposition

Applications disputing jurisdiction dismissed

Orders

  • The challenges to the jurisdiction of the English court by Bambino Holdings Limited and the Argands are dismissed.