The court was asked whether goodwill was to be regarded as an asset in the context of an asset freezig order. A third party company was subject to such and they were said to have broken the order by the purchase at an undervalue of the company business. They now argued that such a sale was not the disposal of an asset within the order.
Held: The appeal failed. The fact that goodwill is an intangible makes it no less an asset than other intangibles, such as choses in action.
Judges:
Rix, Black, Lewison LJJ
Citations:
[2013] EWCA Civ 35
Links:
Jurisdiction:
England and Wales
Citing:
Cited – Darashah v UFAC (UK) Ltd CA 1982
A Mareva order had been obtained. The order explicitly included goodwill as an asset of the company, but the defendant argued still that it was not covered as an asset for the injunction.
Held: The court rejected the assertion.
Lord . .
Cited by:
Cited – JSC BTA Bank v Ablyazov SC 21-Oct-2015
The court was asked as to the interpretation and application of the standard form freezing order. In the course of long-running litigation between JSC BTA Bank and Mr Ablyazov the Bank had obtained a number of judgments against the respondent . .
Lists of cited by and citing cases may be incomplete.
Litigation Practice, Contempt of Court
Updated: 13 November 2022; Ref: scu.470803