BMF Assets No. 1 Ltd v Sanne Group PLC

BMF Assets No. 1 Ltd v Sanne Group PLC

The application for injunction is dismissed as totally without merit due to lack of credible evidence, inconsistent and unsupported claims regarding change of directors and sale of assets, absence of standing, and attempt to interfere with legitimate litigation. The applicant failed to provide admissible evidence or lawful basis for the relief sought.

Parties
Applicant/claimant: BMF Assets No. 1 Limited; Claimant: BMF Holdings Limited; Claimant: Business Mortgage Finance 3 PLC; Claimant: Business Mortgage Finance 4 PLC; Claimant: Business Mortgage Finance 5 PLC; Claimant: Business Mortgage Finance 6 PLC; Claimant: Business Mortgage Finance 7 PLC; Claimant: Kipling Firs Limited; Claimant: Tilman Holdings Limited; Respondent/defendant: Sanne Group PLC; Respondent/defendant: Sanne Group (UK) Limited; Respondent/defendant: Sanne Group Secretaries (UK) Limited; Respondent/defendant: Sanne Trustee Company (UK) Limited; Respondent/defendant: Martin Charles Schnaier; Respondent/defendant: Jason Christopher Bingham; Respondent/defendant: Beejadhursingh Surnam; Respondent/defendant: Coral Suzanne Bidel; Respondent/defendant: Marc Speight; Respondent/defendant: Simmons & Simmons LLP; Respondent/defendant: Caroline Hunter-Yeats; Respondent/defendant: Alexander Paul Riddiford
Jurisdiction
England and Wales
Judgment Date
19 November 2021
Procedural Posture
Application for Injunction and Joinder / Ruling on Interim Application
Outcome
application dismissed
Legal Topics
Injunctions, Directors' Identity, Abuse of Process, Strike Out Applications, Costs, Joinder of Parties
Company Law Civil Procedure Securitisation Injunctions Directors' Identity Abuse of Process Strike Out Applications Costs +1 more

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Parties

BMF Assets No. 1 Limited

Applicant/claimant

BMF Holdings Limited

Claimant

Business Mortgage Finance 3 PLC

Claimant

Business Mortgage Finance 4 PLC

Claimant

Business Mortgage Finance 5 PLC

Claimant

Business Mortgage Finance 6 PLC

Claimant

Business Mortgage Finance 7 PLC

Claimant

Kipling Firs Limited

Claimant

Tilman Holdings Limited

Claimant

Sanne Group PLC

Respondent/defendant

Sanne Group (UK) Limited

Respondent/defendant

Sanne Group Secretaries (UK) Limited

Respondent/defendant

Sanne Trustee Company (UK) Limited

Respondent/defendant

Martin Charles Schnaier

Respondent/defendant

Jason Christopher Bingham

Respondent/defendant

Beejadhursingh Surnam

Respondent/defendant

Coral Suzanne Bidel

Respondent/defendant

Marc Speight

Respondent/defendant

Simmons & Simmons LLP

Respondent/defendant

Caroline Hunter-Yeats

Respondent/defendant

Alexander Paul Riddiford

Respondent/defendant

Procedural Posture

Application for Injunction and Joinder / Ruling on Interim Application

Legal Issues

  1. 1 Whether the applicant is entitled to an injunction restraining the respondents from obstructing the discharge of securities and utilisation of funds
  2. 2 Whether the applicant has standing to bring the application
  3. 3 Whether the directors of the Issuers and Holdings were lawfully changed

Ratio Decidendi

The application for injunction is dismissed as totally without merit due to lack of credible evidence, inconsistent and unsupported claims regarding change of directors and sale of assets, absence of standing, and attempt to interfere with legitimate litigation. The applicant failed to provide admissible evidence or lawful basis for the relief sought.

Court Disposition

application dismissed

Orders

  • Application for injunction dismissed as totally without merit.
  • First claimant to pay costs, including those of Issuers and Holdings, on indemnity basis.