Michael Wilson & Partners Ltd v Sinclair & Ors

Michael Wilson & Partners Ltd v Sinclair & Ors

MWP cannot pursue its appeal or retain the benefit of the TPDO due to Mr Sinclair's bankruptcy, as the attachment was not completed before bankruptcy and there is no reasonable prospect of success under s. 346(6) IA 1986.

Parties
Claimant/appellant: Michael Wilson & Partners Ltd; Defendant/respondent: Thomas Ian Sinclair; Defendant/respondent: Sokol Holdings Inc.; Defendant/respondent: Eagle Point Investments Ltd; Defendant/respondent: The Butterfield Bank (Bahamas) Ltd; Third Party/respondent: John Forster Emmott
Jurisdiction
England and Wales
Judgment Date
16 April 2021
Procedural Posture
Civil Appeal / Court of Appeal Judgment
Outcome
Appeal not heard; application dismissed as academic due to bankruptcy.
Legal Topics
Third Party Debt Orders, Bankruptcy, Pari Passu Principle, Attachment of Debts
Insolvency Civil Procedure Third Party Debt Orders Bankruptcy Pari Passu Principle Attachment of Debts

Case Brief

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Parties

Michael Wilson & Partners Ltd

Claimant/appellant

Thomas Ian Sinclair

Defendant/respondent

Sokol Holdings Inc.

Defendant/respondent

Eagle Point Investments Ltd

Defendant/respondent

The Butterfield Bank (Bahamas) Ltd

Defendant/respondent

John Forster Emmott

Third Party/respondent

Procedural Posture

Civil Appeal / Court of Appeal Judgment

Legal Issues

  1. 1 Whether a loan repayable 30 days after demand is a 'debt due or accruing due' for purposes of CPR r 72.2(1)
  2. 2 Whether a TPDO can be made final after bankruptcy of judgment debtor
  3. 3 Whether MWP has a reasonable prospect of obtaining an order under s. 346(6) Insolvency Act 1986

Ratio Decidendi

MWP cannot pursue its appeal or retain the benefit of the TPDO due to Mr Sinclair's bankruptcy, as the attachment was not completed before bankruptcy and there is no reasonable prospect of success under s. 346(6) IA 1986.

Court Disposition

Appeal not heard; application dismissed as academic due to bankruptcy.

Orders

  • Interim TPDO discharged.
  • No continuation of interim TPDO.