True Fix Construction Ltd v Apollo Property Services Group Ltd
Citation: EWHC 2524 (TCC)
Nature of case:
True Fix applied for summary judgment to enforce and adjudicator’s decision in its favour against Apollo Property Services. The issue was whether stay of enforcement should be granted, on the basis that True Fix would be unable to repay the sums due under the award, if contemporaneous adjudication proceedings were to be decided against them.
Granting True Fix’s application, without a stay, Ramsey J stated that whilst it might not be easy for the money to be repaid, on the figures, there was a real likelihood that they would be able to repay, given their current financial position. True Fix’s debts were not large compared to its turnover, and its financial position had been worse, at the time that the parties had entered into the contract, than it was at present.