INTRODUCTION
INTRODUCTION
On 31 July 2025, in the Interim Applications Court, and on the application of the Applicants as Joint Liquidators of IAHP Group Holdings Limited (‘the Company’ and ‘the Liquidators’), I granted an Order containing a proprietary injunction, a worldwide freezing order and provisions for disclosure of information against the Respondents. These are my reasons for making that Order.
On the facts, and due to the risk of dissipation (explained below), I was satisfied that I should hear the application and make the Order despite no notice having been given to the Respondents. As usual, the Respondents have the usual ability to apply on notice to the Applicants’ legal representatives to set aside or vary this Order. Counsel supplied me with a very useful and full skeleton argument in advance of the hearing, and I heard oral submissions from both Mr Davies KC and Mr Timson, over a period of around 2 hours. In view of their concerns over possible attacks which the Respondents might make on full and frank disclosure, I encouraged Counsel to address those matters fully and, at least from my perspective, they did so. I explain these considerations in further detail below.
- Heading
- INTRODUCTION
- BACKGROUND
- THE LIQUIDATORS CASE IN SUMMARY
- Unlawful distributions
- Directors Duties
- The Interim relief sought
- THE ISSUES IN MORE DETAIL
- Injections of funds into the Company
- Payments out – The Alleged Diversions
- The position of the Second Respondent
- The position of the First Respondent
- FULL AND FRANK DISCLOSURE
- THE INTERIM RELIEF SOUGHT
- RISK OF DISSIPATION
- DELAY / THE ‘STABLE DOOR’ POINT
- ASSETS
- JUST AND CONVENIENT
- DISCLOSURE ORDER
- CROSS-UNDERTAKING IN DAMAGES
- Conclusions
![CR-2024-000675 - [2025] EWHC 2069 (Ch)](https://backend.juristeca.com/files/emisores/logo_O3rEzCI.png)