Thursday 29 September 2022
By appellant’s notice filed on 31 March 2022, the Defendant appeals the order of Andrew Hochhauser QC dated 7 March 2022, whereby he ordered that the Defendant shall delegate to Candey his power to notify HMRC that he is revoking his Enhanced Protection concerning his lifetime allowance and to notify HMRC that he is seeing Individual Protection 2016, that the Defendant shall delegate to Candey his power to elect to draw down on his pension under the Richard Green (Fine Paintings) Executive Pension Scheme and that Candey shall have authority to elect that the Applicant draws down on his pension, by way of taking a Pension Commencement Lump Sum, Lifetime Allowance Excess Lump Sum and/or any other pension, by providing notice in writing to the Interested Party. The order is accompanied by a penal notice.
The Respondents obtained a judgment against the Appellant in the sum of £3,233,625.76 in respect to loans obtained dishonestly by him. As the judgment debt relates to fraud, it survives the later bankruptcy order made against the Appellant. The Respondents sought to enforce the judgment by obtaining injunctions under the Senior Courts Act 1981 for delegation of the Appellant’s rights to call for a tax free lump sum under a Pension Scheme, his right to call for a pension under the Scheme and his power to notify HMRC that he is revoking his Enhanced Protection concerning his lifetime allowance. It is presumed that ultimately the Respondents will seek to get payment of the judgment debt out of the pension lump sums.