Richard Graham Doubtfire v Timothy Michael Horrell

Facts

Mr Doubtfire and Mr Horrell are both businessmen and property developers whose dealings covered two ventures. The first concerned Silversword Developments Limited, of which Mr Doubtfire was a director and whose shares were held by his family's company MFC Management Ltd. On 6 October 2023 Mr Horrell agreed to lend Silversword up to £250,000, repayable on 6 April 2024, and Mr Doubtfire executed a personal guarantee and indemnity the same day, having taken independent advice from Jury O'Shea LLP. Silversword did not repay; a winding-up petition presented on 19 August 2024 was compromised, the facility increased to £370,071, and by an amendment and restatement agreement of 24 December 2024 the parties confirmed the guarantee continued in force. Silversword entered creditors' voluntary liquidation on 28 April 2025, demand under the guarantee for £399,772 having gone unmet. The second venture concerned ACM-47 Guildford Road Limited, a special purpose vehicle formed with Mr Nouri to develop a former public house at Bagshot; planning permission for only four dwellings, and default under Mr Horrell's secured loan, led to the appointment of administrators, who sold the property. Mr Horrell served a statutory demand dated 7 July 2025, and Mr Doubtfire applied on 17 July 2025 to set it aside.