Dyer v Piclux SA & Anor

Dyer v Piclux SA & Anor

The condition precedent for payment under the promissory note was satisfied when the Sovereign Guarantee was executed and delivered to the escrow agent; the defendants had no real prospect of establishing forgery of the Addendum or that the Luxembourg court order suspended the obligation to pay. The claimant was entitled to summary judgment for the principal and contractual interest.

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 Claim (summary Judgment Application) / High Court (commercial Court) Summary Judgment
Outcome
Summary judgment for the claimant
Legal Topics
Summary Judgment, Share Sale Agreement, Guarantee, Forgery Allegation, Interpretation of Condition Precedent, Effect of Foreign Court Orders
Contract Law Commercial Law Summary Judgment Share Sale Agreement Guarantee Forgery Allegation Interpretation of Condition Precedent Effect of Foreign Court Orders

Case Brief

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Parties

Irvin Dyer

Claimant

Piclux S.A.

Defendant

H H Maximilian von Habsburg

Defendant

Procedural Posture

Commercial Claim (summary Judgment Application) / High Court (commercial Court) Summary Judgment

Legal Issues

  1. 1 Whether the condition precedent for payment under the promissory note was satisfied by the issue of the Sovereign Guarantee
  2. 2 Whether the Addendum to the Share Sale Agreement was forged
  3. 3 Whether the Luxembourg court order suspended the obligation to pay the claimant

Ratio Decidendi

The condition precedent for payment under the promissory note was satisfied when the Sovereign Guarantee was executed and delivered to the escrow agent; the defendants had no real prospect of establishing forgery of the Addendum or that the Luxembourg court order suspended the obligation to pay. The claimant was entitled to summary judgment for the principal and contractual interest.

Court Disposition

Summary judgment for the claimant

Orders

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