QUEEN'S BENCH DIVISION
COMMERCIAL COURT
Strand, London, WC2A 2LL |
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B e f o r e :
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MARITIME INVESTMENT HOLDINGS INC |
Claimant |
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- and - |
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UNDERWRITING MEMBERS OF SYNDICATE 1183 AT LLOYD'S AND OTHERS |
Third Defendants |
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John Passmore QC (instructed by Thomas Cooper LLP) for the Third Defendants
Hearing dates: 12 June 2015
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Crown Copyright ©
Mr Justice Andrew Smith:
i) Ms Straub's "lifestyle" shows that she has access to "substantial funds" in that she lives in Germany and travels frequently to and from the United States, and had apparently funded litigation in Antigua with the owner of the slipway where the yacht was damaged.
ii) She considered that Ms Straub had not fully and frankly disclosed her "means and access to means".
iii) She accepted the defendants' submission that "a veil ha[d] effectively been drawn over Mr Straub's financial position and his willingness to be involved".
iv) She considered that Ms Straub's financial position too had not been properly explained.
v) She thought that, given that Mr Berger had chosen to fund the proceedings, there was "nothing unfair" in requiring him to put up security for costs. (Clearly she had in mind the fairness of placing a requirement on MIH that might lead to Mr Berger providing funding: there was no question of the court requiring security directly from a person not before the court and indeed outside the jurisdiction.)