'Classic case' for appointment of receivers by way of equitable execution (Cruz City v Unitech & Ors)

Table of contents

• Practical implications
• Key points from the judgment
• The requirements for equitable execution
• Jurisdiction over foreign assets
• Assets of subsidiaries
• Ancillary orders
• Court and judgment details

Article summary

Dispute Resolution analysis: In his judgment dated 2 October 2014, Mr Justice Males gave reasons for his ‘firm conclusion’ that the claimant’s application, pursuant to section 37 of the Senior Courts Act 1981 (SCA 1981), for the appointment of receivers by way of equitable execution over certain assets of the first and second defendants should be granted. Males J’s decision provides a useful summary of the law on receivership by way of equitable execution, which we summarise below.