DBLP Sea Cow Limited v Lars Steffenson

DBLP Sea Cow Limited v Lars Steffenson

There is a serious issue to be tried as to whether the shares were held on trust under the 16 May 2025 SPA; the WhatsApp evidence supports the claimant's case that the 22 May 2025 SPA was a sham for administrative purposes. Clean hands arguments do not preclude interim relief. Damages are not an adequate remedy due to lack of evidence of defendant's assets. Urgency is established by the secret sale of shares and lack of information on proceeds. An interim proprietary injunction is justified pending further hearing.

Parties
Claimant: DBLP Sea Cow Limited; Defendant: Lars Steffensen
Jurisdiction
England and Wales
Judgment Date
22 October 2025
Procedural Posture
Commercial Injunction / Interim Application for Proprietary Injunction
Outcome
interim proprietary injunction granted pending adjourned hearing
Legal Topics
Proprietary Injunction, Trusts, Clean Hands Doctrine, Contract Variation, Freezing Orders
Commercial Law Equity Proprietary Injunction Trusts Clean Hands Doctrine Contract Variation Freezing Orders

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Parties

DBLP Sea Cow Limited

Claimant

Lars Steffensen

Defendant

Procedural Posture

Commercial Injunction / Interim Application for Proprietary Injunction

Legal Issues

  1. 1 whether shares were held on trust under the 16 May 2025 SPA
  2. 2 effect of alleged sham 22 May 2025 SPA
  3. 3 applicability of clean hands doctrine to equitable relief

Ratio Decidendi

There is a serious issue to be tried as to whether the shares were held on trust under the 16 May 2025 SPA; the WhatsApp evidence supports the claimant's case that the 22 May 2025 SPA was a sham for administrative purposes. Clean hands arguments do not preclude interim relief. Damages are not an adequate remedy due to lack of evidence of defendant's assets. Urgency is established by the secret sale of shares and lack of information on proceeds. An interim proprietary injunction is justified pending further hearing.

Court Disposition

interim proprietary injunction granted pending adjourned hearing

Orders

  • injunction granted over proceeds of sale of shares
  • claimant to fortify cross undertaking with £1 million held by Taylor Wessing