Alta Trading UK Ltd (Formerly Arcadia Petroleum Ltd) & Ors v Bosworth & Ors [2021] EWHC 1126 (Comm) (30 April 2021)

Alta Trading UK Ltd (Formerly Arcadia Petroleum Ltd) & Ors v Bosworth & Ors [2021] EWHC 1126 (Comm) (30 April 2021)

Mr Kelbrick demonstrated a good arguable case that he suffered losses as a result of the freezing injunction, that the injunction was an effective cause of those losses, and that there is a sufficient risk that the claimants may not satisfy any award of damages under the undertaking. The court found that further fortification of the undertaking in damages is justified.

Citation
[2021] EWHC 1126 (Comm)
Parties
Claimant: ALTA TRADING UK LIMITED (FORMERLY ARCADIA PETROLEUM LIMITED); Claimant: ARCADIA ENERGY (SUISSE) SA; Claimant: ARCADIA ENERGY PTE LIMITED; Claimant: FARAHEAD HOLDINGS LIMITED; Defendant: PETER MILES BOSWORTH; Defendant: COLIN HURLEY; Defendant: STEPHEN CLIVE LANGFORD GIBBONS; Defendant: MARK RICHARD LANCE; Defendant: STEVEN KELBRICK; Defendant: SALEM CHUCRI MOUNZER; Defendant: ARCADIA PETROLEUM SAL OFFSHORE; Defendant: ARCADIA PETROLEUM LIMITED MAURITIUS; Defendant: ATTOCK OIL INTERNATIONAL LIMITED MAURITIUS; Defendant: THE CORNHILL GROUP LIMITED
Jurisdiction
England and Wales
Judgment Date
30 April 2021
Procedural Posture
Commercial Court Proceedings (qbd) / Interlocutory Application for Increased Fortification of Undertaking in Damages
Outcome
Application for increased fortification granted
Legal Topics
Freezing Injunctions, Undertaking in Damages, Fortification of Undertaking, Causation of Loss, Risk of Non Satisfaction
Civil Procedure Commercial Law Freezing Injunctions Undertaking in Damages Fortification of Undertaking Causation of Loss Risk of Non Satisfaction

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Parties

ALTA TRADING UK LIMITED (FORMERLY ARCADIA PETROLEUM LIMITED)

Claimant

ARCADIA ENERGY (SUISSE) SA

Claimant

ARCADIA ENERGY PTE LIMITED

Claimant

FARAHEAD HOLDINGS LIMITED

Claimant

PETER MILES BOSWORTH

Defendant

COLIN HURLEY

Defendant

STEPHEN CLIVE LANGFORD GIBBONS

Defendant

MARK RICHARD LANCE

Defendant

STEVEN KELBRICK

Defendant

SALEM CHUCRI MOUNZER

Defendant

ARCADIA PETROLEUM SAL OFFSHORE

Defendant

ARCADIA PETROLEUM LIMITED MAURITIUS

Defendant

ATTOCK OIL INTERNATIONAL LIMITED MAURITIUS

Defendant

THE CORNHILL GROUP LIMITED

Defendant

Procedural Posture

Commercial Court Proceedings (qbd) / Interlocutory Application for Increased Fortification of Undertaking in Damages

Legal Issues

  1. 1 Whether the defendant (Mr Kelbrick) has a good arguable case for increased fortification of the claimants' undertaking in damages following a freezing injunction; Whether the losses claimed are causally linked to the injunction; Whether there is a real risk that the claimants will not satisfy any award of damages under the undertaking.

Ratio Decidendi

Mr Kelbrick demonstrated a good arguable case that he suffered losses as a result of the freezing injunction, that the injunction was an effective cause of those losses, and that there is a sufficient risk that the claimants may not satisfy any award of damages under the undertaking. The court found that further fortification of the undertaking in damages is justified.

Court Disposition

Application for increased fortification granted

Orders

  • Claimants to provide further fortification of the undertaking in damages in the sum of US$6-7 million, in addition to the existing US$2 million.