England and Wales High Court (Commercial Court) Decisions

 

 

 

 

 

 

 

Neutral Citation Number: [2017] EWHC 3335 (Comm)

Case No: CL-2017-000323; (formerly CJA No 73 of 2005)

 

IN THE HIGH COURT OF JUSTICE

QUEEN'S BENCH DIVISION

COMMERCIAL COURT

Royal Courts of Justice, Rolls Building

Fetter Lane, London, EC4A 1NL

Date: 6^th December 2017

 

Before :

Mr Justice Popplewell

- - - - - - - - - - - - - - - - - - - - -

Between :

In the Matter of Gerald Smith

 

- - - - - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - - - - -

Sebastian Kokelaar (instructed by Richard Slade & Co LLP) for the Phoenix & Minardi

Dominic Kendrick QC & Tim Akkouh ( Byrne & Partners LLP ) For Harbour II

Martin Pascoe QC & Rupert Hamilton (Holman Fenwick Willan LLP) For Joint Liquidators

Ian Gatt QC & Sean Upson ( Stewarts Law LLP ) For Stewarts Law

Kennedy Talbot QC & James Mather ( SFO ) For SFO

Tony Beswetherick (Stephenson Harwood LLP  ) For Receivers)

Dr Gerald Smith in person

Hearing dates: 6^th – 7^th December 2017

- - - - - - - - - - - - - - - - - - - - -

DRAFT RULINGS

 

 

Mr Justice Popplewell

 

 

 

 

 

 

 

 

1. I proceed on the footing that a good arguable case has been established.
2. We will proceed on the basis that for the purposes of this application the SFO has established that there is a good arguable case that the shares constitute realisable property of Dr Smith.  I do so on the basis that the evidence which is relied on is submitted by Mr Talbot to be sufficient to cross that threshold.  No one has sought to argue to the contrary, save only Mr Kokelaar on behalf of Phoenix and Minardi and his position is that because he would like a receivership order to be made, he does not wish today to argue the contrary but only wishes to reserve his ability to argue to the contrary on some later occasion.  Mr Talbot has confirmed that he will be able to do so.  On that basis,