Powered by Lexis+®
Jurisdiction(s):
United Kingdom

Strike out and restraint of advertisement of winding-up petition refused: promissory note debt due; no implied good faith; cross-claim speculative; prior restraining application no bar (England and Wales)

Published on: 15 August 2023

Published by a LexisNexis Restructuring & Insolvency expert
Legal News
imgtext
Article summary

Time GB Group Ltd v Yarwell Mill Country Park Ltd [2023] EWHC 1887 (Ch)

What are the practical implications of this case?

This judgment underscores the necessity for solid evidence to support any application seeking to restrain the advertisement of a petition, and showcases the court’s firm response to assertions that are not borne out by the material before it. It also provides a useful restatement of:

  • the core principles that inform an application to restrain advertisement;
  • the characteristics of a promissory note; and
  • the circumstances in which a term of good faith will be implied into an agreement.

The court drew upon leading authorities on when advertisement should be restrained, including Coilcolour v Camtrex [2015] EWHC 3202 (Ch) (Mr Justice Hildyard). It additionally referenced Lady Justice Arden’s decision in James Dolman & Co v Pedley [2004] BCC 504 (not reported by LexisNexis®UK), where at [10] she confirmed that the jurisdiction to restrain advertisement is exercised to prevent a threatened abuse of process of the court and that, in the absence of evidence of a threatened abuse of process, it was ‘erroneous in principle’ to restrain...

To view the latest version of this document and thousands of others like it, sign-in with LexisNexis or register for a free trial.

Popular documents

When evaluating a general damages claim, the practitioner ought initially to refer to the Judicial College Guidelines (JCG)...

Read More Right Arrow

This Practice Note This Practice Note reviews mechanisms used in settling litigation. A Tomlin order consists of a consent order paired with a schedule. It operates to stay proceedings on terms that have been agreed. The provisions contained in the schedule may remain confidential. This Practice Note describes the scope of confidentiality attaching to the schedule and sets out how it differs from a standard consent order. Sample wording for a Tomlin order is included, alongside links to precedents, as well as guidance on court approval. It also addresses varying, setting aside and enforcing a Tomlin order, including the considerations the court will take into account when handling applications for each. Further guidance is provided on interpreting and applying the relevant provisions of the CPR; however, some courts and divisions impose very specific requirements for both drafting and approval, and for approaching the schedule and confidentiality issues. Accordingly, you must consider the particular rules and court guide provisions in the forum where your claim is proceeding when drawing up the Tomlin order...

Read More Right Arrow

Date [ date ] Parties [ name of Landlord ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Landlord) [ name of Tenant ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Tenant) [ [ name of Guarantor ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Guarantor) ] [ [ name of Mortgagee ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Mortgagee) ] Definitions Within this Deed, the terms below shall be interpreted as follows: [ Annual Rent • the annual sum reserved under the Lease; ] [ Insurance Rent • the Tenant’s share of the Landlord’s costs of insuring the Property (as set out in the Lease); ] Lease • the lease of the Property dated [ date ], entered into between (1) [ the Landlord OR [ name ...

Read More Right Arrow

I, [ name ], of [ address ], solemnly and sincerely state that: [ Matters to be verified, set out in numbered paragraphs ] I make this solemn statement in good conscience, believing it to be true, and pursuant to the provisions of the Statutory Declarations Act 1835. DECLARED at [ details ] this [ day ] day of [ month and year ] Before me ................................................................................ [ signature of the person before whom the declaration is made ] A [ commissioner for oaths OR [ solicitor OR [ insert other qualification ] ] authorised to administer oaths ]...

Read More Right Arrow