Judgment has been handed down in Re a company [2024] EWHC 2656 (Ch), in which ICC Judge Burton granted an injunction to restrain a winding up petition on the basis that the applicant company has a genuine and serious cross-claim against the would-be petitioning creditor, in the sum of £44m. The Judge expressly rejected the creditor’s contention that the asserted cross-claim must be capable of being set out in a pleading, holding that “there is scope for this court to determine an asserted cross-claim to be genuine and serious even in circumstances where all of the information one would usually require for it to be properly pleaded, is not before this court.” The Judge reiterated that the threshold test for an injunction of this kind is “low”, and that if there is any doubt about the cross-claim, the court should proceed with caution.

Faith Julian was instructed by Edward Saunders of Wedlake Bell LLP

The judgment can be found here