Debussy Dtc Plc & Ors v Solutus Advisors & Ors [2019] EWHC 1035 (Ch) (08 February 2019)

Debussy Dtc Plc & Ors v Solutus Advisors & Ors [2019] EWHC 1035 (Ch) (08 February 2019)

The amendment application was refused because Ground 2 can be advanced in the Financial List proceedings, expedited hearing would prejudice Defendants, no real prejudice to Claimants from delay, and administration order is not appropriate prior to Financial List trial due to unresolved disputes and potential overlap of issues.

Citation
[2019] EWHC 1035 (Ch)
Parties
Claimant: Debussy DTC PLC; Claimant: U. S. Bank Trustees Limited (Security Agent); Claimant: U. S. Bank Trustees Limited (Issuer Security Trustee); Claimant: Elavon Financial Services DAC (Facility Agent); Defendant: Solutus Advisors Limited; Defendant: Neil Joseph Forkin; Defendant: Bollinway Properties Limited; Defendant: Toys "R" Us Properties (UK) Limited; Defendant: Timothy Rolleston Gilbert Perkin; Defendant: John David Barber
Jurisdiction
England and Wales
Judgment Date
08 February 2019
Procedural Posture
Application to Amend Application for Appointment of Administrators / Ruling on Amendment Application
Outcome
Amendment Application refused
Legal Topics
Appointment of Administrators, Late Amendment, Fair Dealing Rule, Validity of Agreements, Administration Order Procedure
Insolvency Company Law Commercial Law Appointment of Administrators Late Amendment Fair Dealing Rule Validity of Agreements Administration Order Procedure

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Parties

Debussy DTC PLC

Claimant

U. S. Bank Trustees Limited (Security Agent)

Claimant

U. S. Bank Trustees Limited (Issuer Security Trustee)

Claimant

Elavon Financial Services DAC (Facility Agent)

Claimant

Solutus Advisors Limited

Defendant

Neil Joseph Forkin

Defendant

Bollinway Properties Limited

Defendant

Toys "R" Us Properties (UK) Limited

Defendant

Timothy Rolleston Gilbert Perkin

Defendant

John David Barber

Defendant

Procedural Posture

Application to Amend Application for Appointment of Administrators / Ruling on Amendment Application

Legal Issues

  1. 1 Whether amendment to appointment application to introduce new ground should be permitted
  2. 2 Whether Ground 2 should be determined in Financial List proceedings or Appointment Application
  3. 3 Prejudice to parties from late amendment

Ratio Decidendi

The amendment application was refused because Ground 2 can be advanced in the Financial List proceedings, expedited hearing would prejudice Defendants, no real prejudice to Claimants from delay, and administration order is not appropriate prior to Financial List trial due to unresolved disputes and potential overlap of issues.

Court Disposition

Amendment Application refused

Orders

  • Costs of strike out and interim order applications to be costs in the Financial List trial; winner to recover costs