Berghoff Trading Ltd & Ors v Swinbrook Developments Ltd & Ors

Berghoff Trading Ltd & Ors v Swinbrook Developments Ltd & Ors

The Loan Agreement and associated financial agreements make Rosserlane and Caspian jointly and severally liable as both obligors and guarantors, with identical obligations. Therefore, Rosserlane cannot claim indemnity or restitution from Caspian. Any right under the Resolution was either assigned to the Claimants or released upon completion of the Sale Agreement and Deed of Assumption. The counterclaim has no real prospect of success.

Parties
Claimant: Berghoff Trading Limited; Claimant: GEA Holdings Limited; Claimant: Caspian Energy Group LP; Defendant: Swinbrook Developments Limited; Defendant: Rosserlane Consultants Limited; Defendant: Dr. Zaur Leshkasheli
Jurisdiction
England and Wales
Judgment Date
28 July 2008
Procedural Posture
Commercial / Summary Judgment Application and Application to Discharge Freezing Order
Outcome
Summary judgment granted for Claimants; counterclaim dismissed; freezing order discharged.
Legal Topics
Joint and Several Liability, Guarantee and Indemnity, Restitution, Assignment of Rights, Summary Judgment, Freezing Order
Contract Law Commercial Law Joint and Several Liability Guarantee and Indemnity Restitution Assignment of Rights Summary Judgment Freezing Order

Case Brief

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Parties

Berghoff Trading Limited

Claimant

GEA Holdings Limited

Claimant

Caspian Energy Group LP

Claimant

Swinbrook Developments Limited

Defendant

Rosserlane Consultants Limited

Defendant

Dr. Zaur Leshkasheli

Defendant

Procedural Posture

Commercial / Summary Judgment Application and Application to Discharge Freezing Order

Legal Issues

  1. 1 Whether Rosserlane Consultants Limited has a valid counterclaim against Caspian Energy Group LP for indemnity or restitution following repayment of a loan to Credit Suisse
  2. 2 Whether the counterclaim based on a written resolution or other causes of action has any real prospect of success
  3. 3 Whether the freezing order in support of the counterclaim should be continued

Ratio Decidendi

The Loan Agreement and associated financial agreements make Rosserlane and Caspian jointly and severally liable as both obligors and guarantors, with identical obligations. Therefore, Rosserlane cannot claim indemnity or restitution from Caspian. Any right under the Resolution was either assigned to the Claimants or released upon completion of the Sale Agreement and Deed of Assumption. The counterclaim has no real prospect of success.

Court Disposition

Summary judgment granted for Claimants; counterclaim dismissed; freezing order discharged.

Orders

  • Summary judgment entered for Claimants on the counterclaim.
  • Freezing order issued in support of the counterclaim is set aside/discharged.