Dyer v Piclux SA & Anor [2004] EWHC 1266 (Comm) (28 May 2004)

Dyer v Piclux SA & Anor [2004] EWHC 1266 (Comm) (28 May 2004)

The Sovereign Guarantee was 'issued' when signed and delivered to the escrow agent, satisfying the condition precedent for payment under the Promissory Note. The Addendum was validly executed, and the Luxembourg court orders do not suspend payment obligations but only affect execution. The defendants have no real prospect of successfully defending the claim.

Citation
[2004] EWHC 1266 (Comm)
Parties
Claimant: Irvin Dyer; Defendant: Piclux S. A.; Defendant: H H Maximilian von Habsburg
Jurisdiction
England and Wales
Judgment Date
28 May 2004
Procedural Posture
Commercial Court Summary Judgment Application / Summary Judgment
Outcome
Summary judgment granted for the claimant against both defendants.
Legal Topics
Share Sale Agreement, Guarantee, Summary Judgment, Forgery Allegation, Restrictive Covenants, Escrow Arrangements
Contract Law Commercial Law Share Sale Agreement Guarantee Summary Judgment Forgery Allegation Restrictive Covenants Escrow Arrangements

Case Brief

Summary, issues, holding and outcome

More case intelligence is available

Unlock the full research layer for this judgment.

Full judgment text Downloadable case file Legal principles 3 Authorities cited 2 Party arguments 2 Amounts and remedies 2
Sign in to unlock

Parties

Irvin Dyer

Claimant

Piclux S. A.

Defendant

H H Maximilian von Habsburg

Defendant

Procedural Posture

Commercial Court Summary Judgment Application / Summary Judgment

Legal Issues

  1. 1 Whether the condition precedent for payment under the Promissory Note was satisfied by the issuance of the Sovereign Guarantee
  2. 2 Whether the Addendum to the Share Sale Agreement was validly executed or forged
  3. 3 Effect of Luxembourg court orders on payment obligations

Ratio Decidendi

The Sovereign Guarantee was 'issued' when signed and delivered to the escrow agent, satisfying the condition precedent for payment under the Promissory Note. The Addendum was validly executed, and the Luxembourg court orders do not suspend payment obligations but only affect execution. The defendants have no real prospect of successfully defending the claim.

Court Disposition

Summary judgment granted for the claimant against both defendants.

Orders

  • Judgment for Mr Dyer against Piclux S. A. for principal sum claimed and contractual interest.
  • Judgment for Mr Dyer against H H Maximilian von Habsburg for breach of guarantee and obligation to provide personal cheques.