29 April 2019
Success: B P Collins acts in High Court claim for deferred consideration
Including issues surrounding specific disclosure, an oral application for summary judgment on the merits after striking out for non-payment of costs; freezing order during insolvency moratorium; freezing order for amounts payable in the future; construction of share purchase agreement.
In Watson v Applegarth Dene Ltd & Christopher Hatton  (ChD) 09/01/2019 (Hildyard J.), B P Collins acted for the Claimants on their claim for deferred consideration under a share purchase agreement relating to the sale of an accountancy practice. The case was listed for a five-day trial in January 2019.
In October 2018 we, on behalf of the Claimants, successfully applied for specific disclosure. Shortly afterwards, we obtained worldwide freezing orders from Nugee J. and Cousins QC, requiring the Defendants to give extended disclosure regarding discretionary trusts and foreign property. In December 2018, much of the Defendants’ defence was struck out for failure to comply with the order for specific disclosure, and the rest of the defence was struck out weeks later for failing to pay interim costs orders. The Claimants applied for judgment before Hildyard J. The evening before the hearing, the directors of the First Defendant had applied for an administration order, which imposed an interim statutory moratorium upon the continuance of legal proceedings against the company. The judge nevertheless gave permission to continue with the application and gave summary judgment against the First Defendant and its directors (the Second and Third Defendants). He continued the freezing order against all the Defendants post-judgment and he accepted that the court had jurisdiction to increase the amount of the order so as to include an instalment that was not yet due.