Re D'Jan

PK Investments Limited seeks summary judgment of a claim made against Mr Sabaratnam issued on 9 January 2023. The claim form and particulars of claim plead that Mr Sabaratnam acted in breach of his duties owed to a company known as Finno Medical Limited (the “Company”). The breach, it is claimed, caused loss to its creditors as a whole.

The application for summary judgment, dated 10 October 2023, is resisted by Mr Sabaratnam on the ground that there are significant factual disputes that necessitate a full trial. His position is that his defence, dated 23 February 2023, discloses a factual basis that has a real prospect of success.

Mr Sabaratnam was appointed director of the Company on 19 October 2015. The Company imported medicines into the UK from the EU. It repackaged, relabelled and sold the medicines to UK wholesalers for a profit.

A compulsory winding up order was made on 12 December 2018. The estimated deficiencies, according to the Official Receivers’ report of 23 January 2019, is £2,645,486.61.

PK Investments is a Maltese company and legal assignee of the claims vested in the Company. The assignment in favour of PK Investments is made by deed dated 1 June 2021. It was negotiated and executed by the liquidator of the Company acting as its agent. By clause 2.1 of the deed the Company as assignor: