[2025] EWHC 2035 (Comm)

This is my reserved judgment following the hearing (held remotely by Teams) of the application by the Defendant, AXA Insurance UK Plc (“AXA”), by application notice dated 20 March 2025, for summary judgment against (1) Mode Management Limited (“Mode”) and (2) Gary Tregunno (“Mr Tregunno”) pursuant to CPR rules 24.2(a) and 24.3 on the basis that they have no real prospect of success and there is no compelling reason why they should be disposed of at trial; alternatively, for an order striking out the claims pursuant to CPR rule 3.4(2)(a) and/or (b) on the basis that the Claim Form and Particulars of Claim disclose no reasonable grounds for bringing the claims against it and/or constitute an abuse of the process of the Court (“the Application”).

In summary, by their Claim Form dated 26 September 2024 and Particulars of Claim dated 23 January 2015 Mode and Mr Tregunno seek: (i) declaratory relief in connection with a “Property Investor’s Protection Plan Insurance” policy with AXA number LS PPP6962434 (“the Policy”); (ii) specific performance of the underlying insurance contract and/or equitable damages in lieu of specific performance; (iii) damages pursuant to section 138D of the Financial Services and Markets Act 2000 (“FSMA”); (iv) all necessary declarations, accounts and inquiries, further or other relief, and (v) costs.