Bacci & Ors v Green & Ors [2022] EWHC 486 (Ch) (07 March 2022)

Bacci & Ors v Green & Ors [2022] EWHC 486 (Ch) (07 March 2022)

The court has jurisdiction to order delegation of Mr Green's powers over his pension scheme, including revocation of Enhanced Protection, as an integral part of accessing assets for satisfaction of a fraud-based judgment debt. The exercise of these powers is not fiduciary, and public policy does not prevent enforcement against pension assets in these circumstances. The demands of justice and s.281(3) Insolvency Act 1986 override pension protections where the debt arises from fraud.

Citation
[2022] EWHC 486 (Ch)
Parties
Claimant: David Bacci; Claimant: Michael Boyle; Claimant: Paul Mundy; Claimant: Marek Zwiefka-Sibley; Defendant: Matthew Green; Interested Party: The Trustees of the Richard Green (Fine Paintings) Executive Pension Scheme; Interested Party: Mrs Allison Green
Jurisdiction
England and Wales
Judgment Date
07 March 2022
Procedural Posture
Application for Enforcement of Judgment / Post Judgment Enforcement Hearing
Outcome
Relief granted to Claimants, subject to amendments accommodating Trustees' and Mrs Green's concerns.
Legal Topics
Enforcement of Judgment, Fraudulent Debts, Pension Scheme Rights, Equitable Execution, Revocation of Enhanced Protection, Freezing Orders
Insolvency Pensions Fraud Equitable Execution Enforcement of Judgment Fraudulent Debts Pension Scheme Rights Revocation of Enhanced Protection +1 more

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Parties

David Bacci

Claimant

Michael Boyle

Claimant

Paul Mundy

Claimant

Marek Zwiefka-Sibley

Claimant

Matthew Green

Defendant

The Trustees of the Richard Green (Fine Paintings) Executive Pension Scheme

Interested Party

Mrs Allison Green

Interested Party

Procedural Posture

Application for Enforcement of Judgment / Post Judgment Enforcement Hearing

Legal Issues

  1. 1 Whether the court has jurisdiction to order delegation of powers over pension scheme for enforcement of judgment debt
  2. 2 Whether revocation of Enhanced Protection can be compelled for equitable execution
  3. 3 Whether public policy prevents enforcement against pension assets post-bankruptcy

Ratio Decidendi

The court has jurisdiction to order delegation of Mr Green's powers over his pension scheme, including revocation of Enhanced Protection, as an integral part of accessing assets for satisfaction of a fraud-based judgment debt. The exercise of these powers is not fiduciary, and public policy does not prevent enforcement against pension assets in these circumstances. The demands of justice and s.281(3) Insolvency Act 1986 override pension protections where the debt arises from fraud.

Court Disposition

Relief granted to Claimants, subject to amendments accommodating Trustees' and Mrs Green's concerns.

Orders

  • Mr Green to delegate powers over pension scheme to Claimants' solicitors, including revocation of Enhanced Protection and election for lump sum and pension payments.
  • Claimants' solicitors authorized to exercise delegated powers for enforcement.