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High Court refuses to grant a freezing order against a company recently sold by the first defendant, finding no evidence that its new owners intend to dissipate assets to avoid enforcement of potential damages or costs. The court also declined to require the first defendant to provide security for costs, as the plaintiff did not establish exceptional circumstances warranting such an order. The original interlocutory injunction to prevent trespassing on a property by the first defendant and the company was upheld, with a stay until 31 October 2024.
Freezing order - security for costs - trespass - property auction - adverse possession - receivers - Mareva injunction - bona fides - share sale - company assets - dissipation of assets - Rules of the Superior Courts (RSC) - Registration of Title Act 1964 - caveat emptor (buyer beware) - interlocutory injunction - good faith - share purchase agreement - due diligence - misrepresentation - nondisclosure - uberrimae fidei (utmost good faith) contracts - constitutional right - access to courts.
Note: This is intended to be a fair and accurate report of a decision made public by a court of law. Any errors should be notified to the editor and will be dealt with accordingly.
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