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NEUTRAL CITATION NUMBER: [2025] EWHC 2470 (Ch)
Case No: BL-2025-000785
IN THE HIGH COURT OF JUSTICE
BUSINESS AND PROPERTY COURTS OF ENGLAND AND WALES
BUSINESS LIST (ChD)
7 Rolls Buildings
Fetter Lane
London EC4A 1NL
Date: 30 September 2025
Before:
MR JUSTICE MARCUS SMITH
Between:
(1) ALTRAD INVESTMENT AUTHORITY SAS (2) ALTRAD UK LIMITED (3) CAPE UK HOLDINGS NEWCO LIMITED (4) CAPE INDUSTRIAL SERVICES GROUP LIMITED (5) CAPE HOLDCO LIMITED (6) ALTRAD SERVICES LIMITED (7) MR MOHED ALTRAD | |
Claimants | |
-and- | |
(1) PETER D PROTOPAPAS (2) CAPE INTERMEDIATE HOLDINGS LIMITED (3) CAPE PLC | |
Defendants |
Heard on 23 and 24 September 2025
Mr Derrick Dale, KC and Angus Groom (instructed by Enyo Law LLP) for the Claimants
Mr William Willson (instructed by Signature Litigation LLP) for the Second and Third Defendants
The First Defendant was not represented and did not appear
Approved Judgment
MR JUSTICE MARCUS SMITH
- Heading
- A. Introduction
- B. The Park Proceedings (proceedings commenced in South Carolina)
- The “Cape” defendants to the Park Proceedings
- D. Constitution of the Park Proceedings in South Carolina
- E. Apparent conclusion of the Park Proceedings
- F. The receivership application in the South Carolina courts
- G. Exorbitant nature of the Receivership Order
- H. Mr Protopapas as the First Defendant in these proceedings
- The Tibbs Proceedings
- J. Third party claims
- K. “Single economic unit”: the factual basis for the Receivership Order and the Third Party Claim
- Declarations and orders made by Mann J in the proceedings before him
- The Cape Scheme and the David Richards J Order
- N. The Settlement Agreement
- O. The claims in the present proceedings
- P. The power in this court to make declarations
- Q. Is this a case where it is appropriate for this court to consider making declarations?
- R. Are the declarations properly and soundly based?
- T. Declarations at paragraphs 4 and 5 of the draft order
- Conclusions