Betta Oceanway Company v SC Tomini Trading SRL

Betta Oceanway Company v SC Tomini Trading SRL

It is desirable for Mr Vatistas to be joined as a defendant because there is a real risk that the proceedings are an abuse of process, brought for the ulterior purpose of obtaining his shares for nothing by means of a declaration of debt in England. The only way to ensure the court does not give its authority to a potentially false declaration is to allow Mr Vatistas to participate. His case has a real prospect of success and cannot be summarily dismissed. The judge failed to consider the direct effect of the proceedings on Mr Vatistas and the unusual circumstances of the case.

Parties
Claimant: Betta Oceanway Company; Defendant: SC Tomini Trading SRL; Applicant/appellant: Georgios Vatistas
Jurisdiction
England and Wales
Judgment Date
05 August 2025
Procedural Posture
Civil Appeal / Court of Appeal Judgment on Appeal From High Court
Outcome
Appeal allowed
Legal Topics
Joinder of Parties, Abuse of Process, Shareholder Rights, Declaratory Relief, Security for Costs
Civil Procedure Company Law Arbitration Joinder of Parties Abuse of Process Shareholder Rights Declaratory Relief Security for Costs

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Parties

Betta Oceanway Company

Claimant

SC Tomini Trading SRL

Defendant

Georgios Vatistas

Applicant/appellant

Procedural Posture

Civil Appeal / Court of Appeal Judgment on Appeal From High Court

Legal Issues

  1. 1 Whether Mr Vatistas should be joined as a defendant under CPR 19.2(2)
  2. 2 Whether the proceedings constitute an abuse of process
  3. 3 Whether the English court is the appropriate forum for the dispute

Ratio Decidendi

It is desirable for Mr Vatistas to be joined as a defendant because there is a real risk that the proceedings are an abuse of process, brought for the ulterior purpose of obtaining his shares for nothing by means of a declaration of debt in England. The only way to ensure the court does not give its authority to a potentially false declaration is to allow Mr Vatistas to participate. His case has a real prospect of success and cannot be summarily dismissed. The judge failed to consider the direct effect of the proceedings on Mr Vatistas and the unusual circumstances of the case.

Court Disposition

Appeal allowed

Orders

  • Mr Vatistas to be joined as a defendant conditional on provision of £400,000 security for costs
  • Time for provision of security to be set by further submissions