The Estate of Euan Mcintyre Lindsay & Anor v Outlook Finance Limited (In Liquidation) & Anor

Facts

The claimants are William Donald Lindsay and the estate of the late Euan McIntyre Lindsay, members of a family of Scottish dairy farmers who owned a farm in Scotland and a farm in Cumbria. After the family ran into financial difficulty in about 2008, they and associated entities borrowed on a secured basis from Outlook Finance Limited in September 2009, granting Outlook a charge over both farms. Outlook was owned and controlled by Mr Derek Fradgley. In 2012 Outlook appointed Mr Roderick Butcher as Law of Property Act receiver of the Cumbrian Farm; he took possession of the farm, plant, machinery and livestock, and sold the farm to R&W Beattie Ltd. In February 2013 the Lindsays sued Outlook, Mr Butcher and Beattie, contending that Outlook had no right to appoint a receiver; HHJ Bird dismissed the claims in June 2014, preferring Mr Fradgley's evidence, the claims against Mr Butcher and Beattie falling as a necessary consequence. Mr Fradgley died in 2017. In August 2021, following proceedings in Scotland, Lady Wolffe found that he had defrauded the Lindsays on a large scale and set aside the loans and the charge. In the 2023 action Kerr J set aside the Manchester judgment against both Outlook and Mr Butcher, holding the equitable jurisdiction extended to a non-fraudulent party and rejecting laches. Mr Butcher appealed.