Lowry Trading Ltd & Anor v Musicalize Ltd & Ors [2024] EWHC 2653 (KB) (28 October 2024)

Lowry Trading Ltd & Anor v Musicalize Ltd & Ors [2024] EWHC 2653 (KB) (28 October 2024)

The Andersons' interest under the vendor/purchaser trust is not capable of being the subject of a charging order due to contractual restrictions prohibiting assignment or charging, and because the trust has collapsed as the contract is no longer specifically enforceable. Even if such an interest existed, the court would exercise its discretion to refuse the order as it would unduly prejudice Ms Fisher.

Citation
[2024] EWHC 2653 (KB)
Parties
Claimant: Lowry Trading Limited; Claimant: SAS Financing Limited; Defendant: Musicalize Ltd; Defendant: Benjamin Delano Anderson; Defendant: Sophie Kate Anderson; Defendant: Musicalize Touring Ltd; Defendant: Musicalize Touring Events Limited (in liquidation); Third Party: Ms Suzanne Fisher
Jurisdiction
England and Wales
Judgment Date
28 October 2024
Procedural Posture
Commercial Application (charging Order) / Application for Final Charging Order on Land
Outcome
Application dismissed; interim charging order discharged.
Legal Topics
Charging Orders, Vendor/purchaser Trust, Beneficial Interest in Land, Contract Affirmation and Rescission, Specific Performance, Court Discretion Under Charging Orders Act 1979
Property Law Civil Procedure Trusts and Equity Charging Orders Vendor/purchaser Trust Beneficial Interest in Land Contract Affirmation and Rescission Specific Performance +1 more

Case Brief

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Parties

Lowry Trading Limited

Claimant

SAS Financing Limited

Claimant

Musicalize Ltd

Defendant

Benjamin Delano Anderson

Defendant

Sophie Kate Anderson

Defendant

Musicalize Touring Ltd

Defendant

Musicalize Touring Events Limited (in liquidation)

Defendant

Ms Suzanne Fisher

Third Party

Procedural Posture

Commercial Application (charging Order) / Application for Final Charging Order on Land

Legal Issues

  1. 1 Whether the Andersons' beneficial interest under a vendor/purchaser trust is capable of being the subject of a charging order
  2. 2 Whether the contract for sale was affirmed or rescinded
  3. 3 Whether the court should exercise its discretion to make the charging order final

Ratio Decidendi

The Andersons' interest under the vendor/purchaser trust is not capable of being the subject of a charging order due to contractual restrictions prohibiting assignment or charging, and because the trust has collapsed as the contract is no longer specifically enforceable. Even if such an interest existed, the court would exercise its discretion to refuse the order as it would unduly prejudice Ms Fisher.

Court Disposition

Application dismissed; interim charging order discharged.

Orders

  • Refusal to make interim charging order final
  • Discharge of interim charging order