QB [2014] EWHC 1674 (Comm)
Amro Commercial Finance PLC v McGinn
Type
Case
Court
Queen's Bench (England & Wales)
Jurisdiction
Qatar Financial Centre, England
Taxonomy
Liquidation, Lending & Security
Decision date
23 May 2014
Catchwords
Practice – Summary judgment – Entitlement to summary judgment – Claimant buying debt of company – Parties entering agreement – Company going into administration and, subsequently, liquidation – Claimant commencing proceedings against directors of company to recover debt owed under deeds of indemnity – Defendants contending variations to agreement over time discharging from deeds of indemnity – Claimants applying for summary judgment on issues of construction and law – Whether defendants' defences having no real prospect of success at trial – Whether application to be granted.
This case was mentioned in QFC 009/2018 Blom Bank Qatar LLC v (1) Qatar Asphalt Company WLL and (2) Emile Michel Turk
The claimant finance company had purchased the debts of a company, which went into administration and subsequently into liquidation. The claimant brought proceedings, seeking to recover a sum from the defendant directors of the company, under deeds of indemnity. The Commercial Court, in granting the application, held that, on the true construction of the deeds of indemnity, the defendants' liability in each case was primary, not secondary and they had no real prospect of success in any of their defences.