Case No: CL-2017-000323; (formerly CJA No 73 of 2005)
Royal Courts of Justice, Rolls Building
Fetter Lane, London, EC4A 1NL
Before :
Mr Justice Popplewell
Between :
In the Matter of Gerald Smith
Sebastian Kokelaar (instructed by Richard Slade & Co LLP) for the Phoenix & Minardi
Dominic Kendrick QC & Tim Akkouh ( Byrne & Partners LLP ) For Harbour II
Martin Pascoe QC & Rupert Hamilton (Holman Fenwick Willan LLP) For Joint Liquidators
Ian Gatt QC & Sean Upson ( Stewarts Law LLP ) For Stewarts Law
Kennedy Talbot QC & James Mather ( SFO ) For SFO
Tony Beswetherick (Stephenson Harwood LLP ) For Receivers)
Dr Gerald Smith in person
Hearing dates: 6th – 7th December 2017
DRAFT RULINGS
If this draft Judgment has been emailed to you it is to be treated as ‘read-only’.
You should send any suggested amendments as a separate Word document.
Mr Justice Popplewell
Wednesday, 6th December 2017
I proceed on the footing that a good arguable case has been established.
We will proceed on the basis that for the purposes of this application the SFO has established that there is a good arguable case that the shares constitute realisable property of Dr Smith. I do so on the basis that the evidence which is relied on is submitted by Mr Talbot to be sufficient to cross that threshold. No one has sought to argue to the contrary, save only Mr Kokelaar on behalf of Phoenix and Minardi and his position is that because he would like a receivership order to be made, he does not wish today to argue the contrary but only wishes to reserve his ability to argue to the contrary on some later occasion. Mr Talbot has confirmed that he will be able to do so. On that basis,