Caribonum Pension Trustee Ltd v Pelikan Hardcopy Production AG

Caribonum Pension Trustee Ltd v Pelikan Hardcopy Production AG

The defendant's liability under the guarantee is not limited to its freely disposable reserves; the guarantee is unqualified and enforceable under English law. The claim is not an abuse of process, even if the judgment may not be enforceable against the defendant's assets, as the claimant is entitled to judgment for sums due under the guarantee.

Parties
Claimant: Caribonum Pension Trustee Limited (as trustee of the Caribonum Pension Scheme); Defendant: Pelikan Hardcopy Production AG
Jurisdiction
England and Wales
Judgment Date
06 September 2018
Procedural Posture
Civil / Summary Judgment Application
Outcome
Summary judgment granted for the claimant
Legal Topics
Guarantee Enforcement, Summary Judgment, Abuse of Process, Interpretation of Contracts
Contract Law Pensions Law Guarantee Enforcement Summary Judgment Abuse of Process Interpretation of Contracts

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Parties

Caribonum Pension Trustee Limited (as trustee of the Caribonum Pension Scheme)

Claimant

Pelikan Hardcopy Production AG

Defendant

Procedural Posture

Civil / Summary Judgment Application

Legal Issues

  1. 1 Whether the defendant's liability under the guarantee is limited to its freely disposable reserves
  2. 2 Whether the claim constitutes an abuse of process

Ratio Decidendi

The defendant's liability under the guarantee is not limited to its freely disposable reserves; the guarantee is unqualified and enforceable under English law. The claim is not an abuse of process, even if the judgment may not be enforceable against the defendant's assets, as the claimant is entitled to judgment for sums due under the guarantee.

Court Disposition

Summary judgment granted for the claimant

Orders

  • Summary judgment for the claimant in the sum of £4,306,605.33