Eurohome UK Mortgages 2007-1 Plc & Ors v Intertrust Management Ltd & Ors [2022] EWHC 2105 (Comm) (08 July 2022)

Eurohome UK Mortgages 2007-1 Plc & Ors v Intertrust Management Ltd & Ors [2022] EWHC 2105 (Comm) (08 July 2022)

Claims based on the assertion that self-appointed de facto directors had authority to act for the companies are legally unsustainable; such persons have no authority, and proceedings commenced by them are an abuse of process and must be struck out.

Citation
[2022] EWHC 2105 (Comm)
Parties
Claimant: Eurohome UK Mortgages 2007-1 Plc; Claimant: Eurohome UK Mortgages 2007-2 Plc; Claimant: Saret Holdings Corp; Claimant: Stratton Mortgage Funding 2019-1 PLC; Claimant: Corelli Capital AG; Defendant: Intertrust Management Limited; Defendant: Intertrust Corporate Services Limited; Defendant: Intertrust Directors 1 Limited; Defendant: Intertrust Directors 2 Limited; Defendant: Ms Paivi Helena Whitaker; Defendant: Intertrust Nominees Limited
Jurisdiction
England and Wales
Judgment Date
08 July 2022
Procedural Posture
Commercial Court Strike Out Application / Ruling on Application to Strike Out Claims Under CPR 3.4(2)
Outcome
Claims struck out and certified as totally without merit.
Legal Topics
De Facto Directors, Authority to Commence Proceedings, Abuse of Process, Strike Out Applications, Securitisation Vehicles
Company Law Civil Procedure De Facto Directors Authority to Commence Proceedings Abuse of Process Strike Out Applications Securitisation Vehicles

Case Brief

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Parties

Eurohome UK Mortgages 2007-1 Plc

Claimant

Eurohome UK Mortgages 2007-2 Plc

Claimant

Saret Holdings Corp

Claimant

Stratton Mortgage Funding 2019-1 PLC

Claimant

Corelli Capital AG

Claimant

Intertrust Management Limited

Defendant

Intertrust Corporate Services Limited

Defendant

Intertrust Directors 1 Limited

Defendant

Intertrust Directors 2 Limited

Defendant

Ms Paivi Helena Whitaker

Defendant

Intertrust Nominees Limited

Defendant

Procedural Posture

Commercial Court Strike Out Application / Ruling on Application to Strike Out Claims Under CPR 3.4(2)

Legal Issues

  1. 1 Whether self-appointed de facto directors have authority to act for companies
  2. 2 Whether claims commenced by unauthorised persons are valid
  3. 3 Whether proceedings are abusive or disclose no reasonable cause of action

Ratio Decidendi

Claims based on the assertion that self-appointed de facto directors had authority to act for the companies are legally unsustainable; such persons have no authority, and proceedings commenced by them are an abuse of process and must be struck out.

Court Disposition

Claims struck out and certified as totally without merit.

Orders

  • Claims in both Eurohome and Stratton proceedings struck out under CPR 3.4(2)(a) and (b).
  • Claims certified as totally without merit.