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Case Nos: CR-2022-001237, CR-2022-001196, CR-2022-001197
IN THE MATTERS OF GENERAL SUBSIDIARY 2 LIMITED (In Administration) and GENERAL CONSOLIDATED LIMITED (In Administration) and
OREX CONSULTANCY LIMITED (In Administration)
Royal Courts of Justice, Rolls Building
Fetter Lane, London, EC4A 1NL
Before :
ICC JUDGE AGNELLO KC
Between :
NICHOLAS BARNETT (in his capacity as Administrator of General Subsidiary 2 Limited (In Administration) and General Consolidated Limited (In Administration) and Orex Consultancy Limited (In Administration) and GENERAL SUBSIDIARY 2 LIMITED (In Administration) GENERAL CONSOLIDATED LIMITED (In Administration) OREX CONSULTANCY LIMITED (In Administration) | Claimant |
Respondents |
Mr Hugo Groves (instructed by Troutman Pepper Locke Uk LLP) for the Applicant
Ms Olivia Chaffin-Laird (instructed via direct access) for GM Securities Opportunities 1001 Limited, GM Securities Opportunities 1002 Limited and GM Securities Opportunities 1003 Limited
Mr Andrew Shaw (instructed by DWF LLP ) for WSL-Cyan Limited and Wilton UK (Group) Limited
Ms Kira King (instructed by DWF LLP) for Hartley Pensions Limited
Mr Michael Augosti in person
Mr Simon Nuttall acting on his behalf and also purporting to represent other beneficiaries of HPL trusts
Hearing dates: 7,8,9,12, 13 May, 17 June 2025
JUDGMENT
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- ICC Judge Agnello KC
- Summary of claimants asserting an economic interest in the funds
- ‘For each syndicated loan transaction, WSLL issued loan participation certificates, interest certificates and loan redemption certificates. I exhibit at pages 193 to 220 each of the loan participation
- The funds provided to Cyan for the purposes of the lending to Orex
- The involvement of the FCA in relation to HPL
- The HPL claim – Mr Kubik’s evidence
- The position of Cyan – summary
- The late submission of an email dated 5 October 2022 by Counsel for the GM Companies
- Conclusions
![[2025] EWHC 2830 (Ch)](https://backend.juristeca.com/files/emisores/logo_O3rEzCI.png)