HT-2022-000254 - [2025] EWHC 105 (TCC)

The present application is made by the Fixed Charge Receivers (“the Receivers”) of another “Click” company, Click Above Corben Mews Ltd. (“Mews Ltd.”) to enable the sale of two leasehold properties known as 17 and 18 Corben Mews, 46-48 Clyston Street, London SW8 (registered with title numbers TGL605915 and TGL62885 respectively) to realise security in favour of Victoria Capital Trust (“VCT”). For the avoidance of doubt, references in this judgment to the property or the properties, without more, are references to these flats. The respondents’ position is that any such disposal would, or at least could, be in breach of the terms of the freezing injunction.

The applicants seek a declaration that any dealing or disposal of these properties by the Receivers (including the management, leasing and sale of the properties) does not fall within the terms of the freezing injunction. In the alternative, and taking these in the order they appear in the draft Order, they seek the discharge of the freezing injunction in its entirety. In the further alternative, they seek a variation of the freezing injunction to allow such dealing and to use the proceedings to repay the debt secured by the Charge. In the further alternative, they seek an undertaking in damages from the respondents.

The evidence of Mr Hitchcock referred to below is that the value of the properties is between £1.05 and £1.15 million. With interest that has accrued on the secured loan, there is likely in any event to be a shortfall in recovering the secured debt from the proceeds of sale. The Receivers also say that the fact that they cannot dispose of the flats has inhibited the enfranchisement of Corben Mews and prevented them obtaining the enhanced value that that would bring.