The Claimant, LXB, applied for a summary judgment to enforce the decision of the adjudicator, Mr Riches, given on 7 July 2016 that LXB was entitled to payment by the defendant, Squibb, being the balance of the liquidated and ascertained damages.
The Defendant sought to stay enforcement on the basis that the Claimant was a special purpose vehicle with limited assets and would be unable to repay the sums awarded if subsequently ordered to do so.
Mr Justice Stuart-Smith decided that the grounds for resisting enforcement were not made out based on the financial information available and, in any event, the Claimant had always been a special purpose vehicle.
Judgment was entered for the Claimant.
Edmund Neuberger appeared on behalf of the Claimant.
The full judgment is available from Lexis®Library.