Enyo Law has successfully defended Wirsol Energy Limited and group companies, against a c.£30m claim brought by Toucan Energy Holdings.
Toucan alleged that Wirsol failed to properly construct 18 solar parks, claiming they were defective and at risk of catastrophic failure, as well as suffering diminution in value further to the costs of repair.
Wirsol contended that the solar parks were properly built and that Toucan’s losses were in fact minimal. Wirsol counterclaimed for £6.5m for services remaining on an outstanding invoice, under an Asset Life Extension agreement. Toucan alleged that no payment was due, as Wirsol had not met the conditions for the payment.
The Judgment, handed down by Mr Justice Henshaw on 14 April 2021, dismissed all Toucan’s related claims, finding defects were minimal. The Judge also upheld Wirsol’s counterclaim, finding that c.£6.25m of the balance on the unpaid invoice was due.
The case attracted national press attention after Toucan raised substantial sums of taxpayer money as part of its refinancing arrangement. The Judge found the prospectus for the refinancing arrangement contained "clear untruths", suggesting "a lack of integrity".
A consequential hearing will finalise the exact damages calculations, and as it stands, Wirsol looks to make a very substantial recovery.
The Enyo team comprised of Edward Allen and Oliver Waxman. Enyo also instructed Craig Morrison, Emily Husain and Jacob Rabinowitz.
Read the full Judgment.