Lowry Trading Limited & Anor v Musicalize Ltd & Ors

Lowry Trading Limited & Anor v Musicalize Ltd & Ors

The Andersons’ interest under the vendor/purchaser trust is not capable of being the subject of a charging order due to contractual restrictions and the nature of the trust; the trust has ceased as the contract is no longer specifically enforceable. Even if it were, the court would not exercise its discretion to grant a charging order as Ms Fisher would be unduly prejudiced.

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 for Final Charging Order on Land
Outcome
Application dismissed
Legal Topics
Vendor/purchaser Trust, Charging Orders, Affirmation of Contract, Specific Performance, Beneficial Interest
Property Law Trusts Civil Procedure Vendor/purchaser Trust Charging Orders Affirmation of Contract Specific Performance Beneficial Interest

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 for Final Charging Order on Land

Legal Issues

  1. 1 Whether the Andersons have a beneficial interest in the property capable of being subject to a charging order
  2. 2 Whether the contract for sale was affirmed or terminated
  3. 3 Whether a charging order can be made over the Andersons’ interest under the vendor/purchaser trust

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 and the nature of the trust; the trust has ceased as the contract is no longer specifically enforceable. Even if it were, the court would not exercise its discretion to grant a charging order as Ms Fisher would be unduly prejudiced.

Court Disposition

Application dismissed

Orders

  • Interim charging order discharged
  • Application for final charging order refused