The Claimants set out In Schedule 1 To the Claim Form v Spence & Ors

The Claimants set out In Schedule 1 To the Claim Form v Spence & Ors

The First Defendant has shown a good arguable case that he will suffer loss in consequence of the Freezing Order, and an intelligent estimate of likely loss is £800,000, warranting additional fortification.

Parties
Claimant: THE CLAIMANTS SET OUT IN SCHEDULE 1 TO THE CLAIM FORM; Defendant: NICHOLAS SPENCE; Defendant: DEREK KEWLEY; Defendant: ANDREW CRUMP; Defendant: EMERGING PROPERTY INVESTMENTS LIMITED (IN LIQUIDATION); Defendant: EMERGING PROPERTY LIMITED; Defendant: GREEN PARK HOLDINGS (ILFRACOMBE) LIMITED; Defendant: GP ILFRACOMBE MANAGEMENT COMPANY LIMITED; Defendant: GREEN PARKS (WESTWARD HO!) MANAGEMENT COMPANY LIMITED; Defendant: ALPHA PROPERTIES (BRADFORD) LIMITED; Defendant: A1 PROPERTIES (SUNDERLAND) LIMITED
Jurisdiction
England and Wales
Judgment Date
16 April 2021
Procedural Posture
Commercial Injunction Application / Interlocutory Application to Vary Fortification of Freezing Order
Outcome
Application for additional fortification granted.
Legal Topics
Freezing Injunctions, Fortification, Risk of Loss, Loan Agreements
Commercial Law Civil Procedure Freezing Injunctions Fortification Risk of Loss Loan Agreements

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Parties

THE CLAIMANTS SET OUT IN SCHEDULE 1 TO THE CLAIM FORM

Claimant

NICHOLAS SPENCE

Defendant

DEREK KEWLEY

Defendant

ANDREW CRUMP

Defendant

EMERGING PROPERTY INVESTMENTS LIMITED (IN LIQUIDATION)

Defendant

EMERGING PROPERTY LIMITED

Defendant

GREEN PARK HOLDINGS (ILFRACOMBE) LIMITED

Defendant

GP ILFRACOMBE MANAGEMENT COMPANY LIMITED

Defendant

GREEN PARKS (WESTWARD HO!) MANAGEMENT COMPANY LIMITED

Defendant

ALPHA PROPERTIES (BRADFORD) LIMITED

Defendant

A1 PROPERTIES (SUNDERLAND) LIMITED

Defendant

Procedural Posture

Commercial Injunction Application / Interlocutory Application to Vary Fortification of Freezing Order

Legal Issues

  1. 1 Whether the First Defendant has a good arguable case of suffering loss due to the Freezing Order
  2. 2 Whether additional fortification is required and in what amount
  3. 3 Causative connection between the Freezing Order and risk of loss

Ratio Decidendi

The First Defendant has shown a good arguable case that he will suffer loss in consequence of the Freezing Order, and an intelligent estimate of likely loss is £800,000, warranting additional fortification.

Court Disposition

Application for additional fortification granted.

Orders

  • Claimants to provide additional fortification of £800,000 in addition to existing £500,000 insurance policy.
  • Form of fortification to be agreed between parties; two weeks allowed for provision.