Promontoria (Chestnut) Ltd v Simpson & Anor

Promontoria (Chestnut) Ltd v Simpson & Anor

The proposed amendments to the defence have no real prospect of success because the evidence demonstrates the deed of assignment was effective, the Nomura charge was a charge not an absolute assignment, and there was no breach of Payment Services Regulations. Redactions and partial disclosure do not undermine the claimant's title to sue. Procedural and discretionary factors also weigh against allowing amendments or a stay.

Parties
Claimant: Promontoria (Chestnut) Limited; Defendant: Scott Simpson; Defendant: Tracy Simpson
Jurisdiction
England and Wales
Judgment Date
22 July 2020
Procedural Posture
Commercial Claim / Interlocutory Judgment on Amendment, Stay, and Disclosure Applications
Outcome
Application to amend defence, stay proceedings, and for specific disclosure refused.
Legal Topics
Assignment of Debts, Guarantees, Specific Disclosure, Payment Services Regulations, Redaction of Documents, Novation, Charges and Security Interests
Commercial Law Banking Law Contract Law Assignment of Debts Guarantees Specific Disclosure Payment Services Regulations Redaction of Documents +2 more

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Parties

Promontoria (Chestnut) Limited

Claimant

Scott Simpson

Defendant

Tracy Simpson

Defendant

Procedural Posture

Commercial Claim / Interlocutory Judgment on Amendment, Stay, and Disclosure Applications

Legal Issues

  1. 1 Whether the deed of assignment was effective to transfer rights to the claimant
  2. 2 Whether the sale and purchase agreement effected a prior assignment
  3. 3 Whether the Nomura charge constituted an absolute assignment or a charge

Ratio Decidendi

The proposed amendments to the defence have no real prospect of success because the evidence demonstrates the deed of assignment was effective, the Nomura charge was a charge not an absolute assignment, and there was no breach of Payment Services Regulations. Redactions and partial disclosure do not undermine the claimant's title to sue. Procedural and discretionary factors also weigh against allowing amendments or a stay.

Court Disposition

Application to amend defence, stay proceedings, and for specific disclosure refused.

Orders

  • All proposed amendments to the defence disallowed.
  • Application for stay of proceedings refused.