Andrew Twigger KC represented the successful respondent in the Supreme Court in LA Micro Group Inc v LA Micro Group (UK) Ltd [2024] UKSC 42
The Supreme Court upheld the Court of Appeal’s decision that a specifically enforceable oral agreement to transfer a beneficial interest in shares in a private company to the legal owner of those shares was effective to pass the relevant interest, without the need for any writing. ...
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Jonathan Allcock acts for successful defendant (and cross-claimant) in Dynamo Recoveries Limited & Emerdata Limited v Alexander Nix [2024] EWHC 3116 (Comm)
On 6 December 2024, the Commercial Court (Dame Clare Moulder DBE) handed down judgment in Dynamo Recoveries Limited & Emerdata Limited v Alexander Nix [2024] EWHC 3116 (Comm), after a two-week trial in October 2024....
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Christopher Parker KC Secures Ruling in Ming v JF Ming Inc in the BVI High Court
On 20 November 2024 the BVI High Court handed down judgment in Ming and others v JF Ming Inc, valuing the minority shareholders’ interest following the Privy Council’s reinstatement of Leon J’s buy out order. It is the first BVI authority on the issue of whether a discount should be applied for the shares being a minority holding. Christopher Parker KC successfully argued that a minority discount should not be applied in all the circumstances of the case. Mangatal J also agreed that the valuation evidence of the minority shareholders should be preferred as the buyer’s valuer had not followed International Valuation Standards. The value of the minority’s 3/17ths interest was therefore set at HKD342,948,353.29 with interest at 1% over HK best lending rate from the 31 March 2017, the valuation date. ...
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Rebecca Page acts for successful creditor in Re KRF Services (UK) Ltd [2024]
On 26 November 2024, Mr Andrew Twigger KC (sitting as a Deputy High Court Judge) handed down judgment in Re KRF Services (UK) Ltd [2024] EWHC 2978 in which he made an administration order under para. 12 of Schedule B1 to the Insolvency Act 1986 against a company deemed to be subject to sanctions under The Russia (Sanctions) (EU Exit) Regulations 2019 (‘Sanctions Regulations’). ...
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Rebecca Page wins Company/Insolvency Junior of the Year
Congratulations to Rebecca Page, who won Company/Insolvency Junior of the Year at the Chambers UK Bar Awards held at Old Billingsgate on Thursday 14 November 2024....
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Court of Appeal clarifies scope of estoppel by litigation conduct
Thomas Munby KC and James Kinman appeared for the successful party in Malik v Malik [2024] EWCA Civ 1323, in which the Court of Appeal handed down judgment on 4 November 2023. They successfully argued that the test for whether a party will – by adopting one position in litigation – be barred from adopting a contrary position at a later stage is broad and merits based, unfettered by strict rules. In particular, it is not necessary to identify a clear, unequivocal statement of position by the party in question, and it is wrong to import such a requirement from the law of promissory estoppel....
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Thomas Munby KC, Emily Gailey and James Mitchell acted for the successful First Defendant in Kireeva v Zolotova
A successful outcome for the First Defendant in Kireeva v Zolotova, in which a Russian bankruptcy trustee had attempted to claim ownership of a valuable property in Italy via a share in an English company. ...
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Rebecca Page acts for successful shareholders at trial in Lane v Lane [2024] EWHC 2616 (Ch)
On 21 October 2024 the High Court handed down judgment in Lane v Lane [2024] EWHC 2616 (Ch). ...
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Faith Julian acted for the successful applicant in Re a company [2024]
Judgment has been handed down in Re a company [2024] EWHC 2656 (Ch), in which ICC Judge Burton granted an injunction to restrain a winding up petition on the basis that the applicant company has a genuine and serious cross-claim against the would-be petitioning creditor, in the sum of £44m. The Judge expressly rejected the creditor’s contention that the asserted cross-claim must be capable of being set out in a pleading, holding that “there is scope for this court to determine an asserted cross-claim to be genuine and serious even in circumstances where all of the information one would usually require for it to be properly pleaded, is not before this court.” The Judge reiterated that the threshold test for an injunction of this kind is “low”, and that if there is any doubt about the cross-claim, the court should proceed with caution....
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