Midtown Acquisitions LP v Essar Global Fund Ltd

Practice – Summary judgment. The claimant, Midtown Acquisitions LP, was granted summary judgment on its claim for payment of a debt created by a judgment in its favour by the Supreme Court of New York, concerning an equity contribution agreement. The Commercial Court ruled that a stay of execution order made by the US court did not extend to the enforcement of the judgment in question, and that the claimant was entitled to enforce the judgment and was not required to await the outcome of the defendant company's latest challenge in the NY courts. The defendant's application for a stay of execution was dismissed.

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