Altrad Investment Authority SAS & Ors v Protopapas & Ors [2025] EWHC 2470 (Ch) (30 September 2025)

Altrad Investment Authority SAS & Ors v Protopapas & Ors [2025] EWHC 2470 (Ch) (30 September 2025)

The South Carolina receivership order is not recognised in England and Wales because there is no sufficient connection between CIHL and South Carolina. Mr Protopapas has no authority to act for CIHL in England or worldwide. The Settlement Agreement is valid and binding, releasing the Claimants from liability for the...

Source-derived case information.

Citation
[2025] EWHC 2470 (Ch)
Parties
Claimant: Altrad Investment Authority SAS; Claimant: Altrad UK Limited; Claimant: Cape UK Holdings Newco Limited; Claimant: Cape Industrial Services Group Limited; Claimant: Cape Holdco Limited; Claimant: Altrad Services Limited; Claimant: Mr Mohed Altrad; Defendant: Peter D Protopapas; Defendant: Cape Intermediate Holdings Limited; Defendant: Cape PLC
Jurisdiction
England and Wales
Judgment Date
30 September 2025
Procedural Posture
Part 8 Claim / Final Judgment After Expedited Trial
Outcome
Declarations and injunctive relief granted as sought by the Claimants and supporting Defendants.
Legal Topics
Recognition of Foreign Receiverships, Corporate Veil, Declaratory Relief, Injunctions, Settlement Agreements, Jurisdiction, Authority of Company Officers
Private International Law Company Law Insolvency Civil Procedure Recognition of Foreign Receiverships Corporate Veil Declaratory Relief Injunctions +3 more

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Parties

Altrad Investment Authority SAS

Claimant

Altrad UK Limited

Claimant

Cape UK Holdings Newco Limited

Claimant

Cape Industrial Services Group Limited

Claimant

Cape Holdco Limited

Claimant

Altrad Services Limited

Claimant

Mr Mohed Altrad

Claimant

Peter D Protopapas

Defendant

Cape Intermediate Holdings Limited

Defendant

Cape PLC

Defendant

Procedural Posture

Part 8 Claim / Final Judgment After Expedited Trial

Legal Issues

  1. 1 Whether the South Carolina receivership order over CIHL is recognised in England and Wales
  2. 2 Whether Mr Protopapas has authority to act for CIHL in England and worldwide
  3. 3 Effect and enforceability of the Settlement Agreement between the parties

Ratio Decidendi

The South Carolina receivership order is not recognised in England and Wales because there is no sufficient connection between CIHL and South Carolina. Mr Protopapas has no authority to act for CIHL in England or worldwide. The Settlement Agreement is valid and binding, releasing the Claimants from liability for the settled claims. The directors of CIHL retain their powers unaffected by the foreign receivership. The Claimants have no liability for US asbestos claims based on the acts of CIHL or its subsidiaries.

Court Disposition

Declarations and injunctive relief granted as sought by the Claimants and supporting Defendants.

Orders

  • Declaration that the Settlement Agreement is valid and binding on the parties.
  • Declaration that the Settlement Agreement releases and settles all relevant claims and liabilities between the parties.