Legal News

Clouds of objections fail to restrain advertisement of petition (IPS Law LLP v Safe Harbour Equity Distressed Debt Fund 3 LP)

Published on: 13 January 2025

Table of contents

  • What are the practical implications of this case?
  • What was the background?
  • What did the court decide?
  • Case details

Article summary

Restructuring & Insolvency analysis: In an application by sports law firm, IPS Law LLP, to restrain the advertisement of a winding up petition against it, in respect of a petition debt of £500,000, Deputy ICC Judge Curl KC dismissed the application, holding that it was an example of a case where a ‘cloud of objections’ had been raised to ‘obfuscate the real issues’ and, despite ‘extensiveness and complexity’ in the evidence, IPS had no arguable defence to the respondent’s claim. The case provides a clear example of the court strictly adhering to the test to be applied in applications to restrain the advertisement of winding up petitions, highlighting the need for clear and focused evidence which properly addresses the points in issue. Written by Dale Timson, barrister at Enterprise Chambers.

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