Frasers Group plc & Ors v The Official Receiver

Frasers Group plc & Ors v The Official Receiver

The appeal is allowed and Respondent’s Notices are dismissed. Permission is granted for Frasers to amend its claim against Silver and GLAS, with directions for service of defences and replies. No further disclosure is ordered at this stage against Silver and GLAS. Silver and GLAS are to pay Frasers’ costs of the...

Source-derived case information.

Parties
Applicant/appellant/claimant: Frasers Group PLC; Respondent: The Official Receiver; Respondent/defendant: Geoffrey Rowley and Alastair Massey (as Administrators of Department Stores Realisations (Properties) Limited); Respondent/defendant: Lucid Trustee Services Limited; Respondent/defendant: Silver Point Capital LP; Respondent/defendant: GLAS Trust Corporation Limited; Respondent/defendant: Global Loan Agency Services Limited
Jurisdiction
England and Wales
Judgment Date
13 December 2022
Procedural Posture
Insolvency Appeal and Directions / Post Appeal Consequential Orders and Directions
Outcome
Appeal allowed; Respondent’s Notices dismissed; directions given; costs awarded to Frasers; payment on account ordered; prior costs order set aside.
Legal Topics
Amendment of Pleadings, Disclosure, Costs, Summary Assessment of Costs
Insolvency Civil Procedure Amendment of Pleadings Disclosure Costs Summary Assessment of Costs

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Parties

Frasers Group PLC

Applicant/appellant/claimant

The Official Receiver

Respondent

Geoffrey Rowley and Alastair Massey (as Administrators of Department Stores Realisations (Properties) Limited)

Respondent/defendant

Lucid Trustee Services Limited

Respondent/defendant

Silver Point Capital LP

Respondent/defendant

GLAS Trust Corporation Limited

Respondent/defendant

Global Loan Agency Services Limited

Respondent/defendant

Procedural Posture

Insolvency Appeal and Directions / Post Appeal Consequential Orders and Directions

Legal Issues

  1. 1 Whether to allow the appeal and dismiss Respondent’s Notices
  2. 2 Whether to permit amendments to pleadings and direct time for defences
  3. 3 Whether to order further disclosure against Silver and GLAS

Ratio Decidendi

The appeal is allowed and Respondent’s Notices are dismissed. Permission is granted for Frasers to amend its claim against Silver and GLAS, with directions for service of defences and replies. No further disclosure is ordered at this stage against Silver and GLAS. Silver and GLAS are to pay Frasers’ costs of the appeal, with a payment on account of £75,000 ordered and detailed assessment to follow. The prior order for costs before the ICC Judge is set aside and repayment with interest at 2% above base rate is ordered.

Court Disposition

Appeal allowed; Respondent’s Notices dismissed; directions given; costs awarded to Frasers; payment on account ordered; prior costs order set aside.

Orders

  • Frasers permitted to amend its claim against Silver and GLAS.
  • GLAS and Silver to serve defences by 4 pm on 13 January 2023, limited to matters raised by amendment.