ADS Securities Llc v Windhorst [2026] EWHC 81 (Comm) (16 January 2026)

ADS Securities Llc v Windhorst [2026] EWHC 81 (Comm) (16 January 2026)

The defendant was validly served, admitted liability in writing for the debt, failed to file an acknowledgment of service or make substantive submissions, and has no real prospect of defending the claim. The court has jurisdiction and there is no compelling reason for a trial. Summary judgment is granted for the debt and interest claimed.

Citation
[2026] EWHC 81 (Comm)
Parties
Claimant: ADS Securities LLC; Defendant: Mr Lars Windhorst
Jurisdiction
England and Wales
Judgment Date
16 January 2026
Procedural Posture
Part 8 Debt Claim and Summary Judgment Application / Summary Judgment Hearing and Costs Order
Outcome
Summary judgment granted for the claimant. Application for adjournment refused. Costs awarded to the claimant.
Legal Topics
Summary Judgment, Debt Recovery, Service of Process, Jurisdiction, Costs
Commercial Law Contract Law Civil Procedure Summary Judgment Debt Recovery Service of Process Jurisdiction Costs

Case Brief

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Parties

ADS Securities LLC

Claimant

Mr Lars Windhorst

Defendant

Procedural Posture

Part 8 Debt Claim and Summary Judgment Application / Summary Judgment Hearing and Costs Order

Legal Issues

  1. 1 Whether the defendant is liable for the debt under the settlement agreement
  2. 2 Whether summary judgment should be granted in the absence of an acknowledgment of service
  3. 3 Whether the court should grant permission to apply for summary judgment under CPR 24.4(1)

Ratio Decidendi

The defendant was validly served, admitted liability in writing for the debt, failed to file an acknowledgment of service or make substantive submissions, and has no real prospect of defending the claim. The court has jurisdiction and there is no compelling reason for a trial. Summary judgment is granted for the debt and interest claimed.

Court Disposition

Summary judgment granted for the claimant. Application for adjournment refused. Costs awarded to the claimant.

Orders

  • Summary judgment for the claimant in the sum of USD 519,280,458 plus interest as claimed under the agreement.
  • Defendant to pay claimant's costs of the summary judgment hearing assessed at £90,000.