Manolete Case Study: Court Refuses Summary Judgment in £2m Escrow Breach Claim (Breach of Undertaking)
The High Court refused Sampson Coward LLP’s application for summary judgment in Manolete Partners Plc v Sampson Coward LLP [2023] EWHC 37 (Ch), allowing a £2 million claim concerning alleged mismanagement of escrow accounts during UK Property and Land Specialists Ltd’s insolvency to proceed. The ruling highlights the complexity of fiduciary breaches in escrow arrangements and confirms assignees’ rights to pursue breach of undertaking claims under the Insolvency Act 1986.