On the 11th of November, the High Court handed down judgment in the matter of Re Utility Point Ltd & Others  EWHC 2826 (Ch), in which Matthew Weaver KC and Andrew Brown appeared on behalf of Contract Natural Gas Ltd.
This is a significant and high-value directions claim concerning the provability of various debts claimed by Ofgem and Suppliers of Last Resort in the insolvency of energy supply companies. The claim considered deep interpretation of energy legislation and principles of unjust enrichment and restitution, discharge of debts by third-parties, and constructive trusts.
The Judgment is highly relevant in today’s marketplace of increased energy insolvencies and the ability for the authorities to claim various sums as a creditor, and will have a significant impact on the levels of recoveries by other creditors.
Thank you to our instructing solicitors, Fraser Ritson, Emma Sadler, George Savage and the whole team at Addleshaw Goddard.
The full judgement can be read, here.