[2008] EWHC 2454 (TCC), 10 October 2008. The case discusses the conditions for interim third party debt orders to be made final. City and General (Holborn) (H) entered into a joint venture with Cambridge Gate Properties Limited and Temple Guiting Manor Limited (C), to buy a property. H contracted with Kier (K) to carry out development on the property. Problems followed. K obtained an adjudicator's award against H for delay-related losses and expenses. K obtained summary judgment to enforce the award but H did not pay it. K made an application to finalise interim third party debt orders against C. K thereby tried to enforce a judgment against H. H on his side made an application for a stay of execution of the judgment given against them in March 2006. "Held": The sums were not debts, but contingent liabilities. No profit or loss could be ascertained until determination of the development costs. No final party debt order could be made. K would be prevented from using other enforcement proceedings, at least until arbitration could be concluded.

See L133402