Prickly Bay Waterside Ltd v British American Insurance Company Ltd [2022] WTLR 1115
Wills & Trusts Law Reports | Autumn 2022 #188Prickly Bay was engaged in the development of houses and apartments at L’Ance Aux Epines, St George, Grenada. Its principal director was Richard Lee, husband of Rosa Lee. Two adjacent properties were owned by a Mr Steele. Following a dispute between Prickly Bay and Mr Steele a consent order was entered into providing that Prickly Bay would purchase the adjacent properties for US$5m. It was a term of the consent order that Prickly Bay would provide a bank guarantee for US$2.25m. The respondent, BAICO, gave the guarantee.
Mr and Mrs Lee, and Prickly Bay, entered into a loan agreemen...
Wang v Darby [2022] WTLR 327
Wills & Trusts Law Reports | Spring 2022 #186The parties entered into contracts whereby they exchanged specified quantities of cryptocurrencies, namely Tezos and Bitcoin, on terms of reciprocal restoration of the same amounts of each currency upon or after an agreed period of two years. The claimant applied to continue a worldwide freezing order and proprietary injunction. The defendant applied to strike out/enter summary judgment on the proprietary claims.
Held – applications granted in part
- 1) Principles:
- a) Fungible and non-identifiable digital assets constitute property ...
Bellis v Challinor [2015] EWCA Civ 59
Wills & Trusts Law Reports | January/February 2016 #156The case concerned a property investment scheme relating to land at and around an airport known as Fairoaks (the Fairoaks scheme). The Fairoaks scheme was the last in a substantial series of schemes (the Albemarle schemes) which, prior to the Fairoaks scheme, were unregulated collective investment schemes promoted by Egan Lawson (later ECS after its takeover by Erinaceous Group PLC (Erinaceous)) involving investment through a single purpose vehicle (SPV). The underlying subject matter of each scheme consisted of either commercial or development property or a mixture of both. The schemes ...
Patel v Mirza [2013] EWHC 1892 (Ch)
Wills & Trusts Law Reports | December 2013 #135The claimant (Mr Patel) became friends with Mr Georgiou in 2004. Mr Patel was introduced to the defendant (Mr Mirza) at the end of 2008 or the beginning of 2009 by Mr Georgiou, probably at one of the poker games Mr Georgiou hosted every Friday evening.
Mr Mirza was and is employed as a foreign exchange broker and also had a personal spread-betting account.
In August 2009 Mr Patel stated that he was approached by Mr Georgiou with a deal he had been offered by Mr Mirza – Mr Mirza would use his spread-betting account to bet on the movement of RBS shares and that Mr Mirza knew ...
Bieber & ors v Teathers Ltd [2012] EWCA Civ 1466
Wills & Trusts Law Reports | January/February 2013 #126The defendant (Teathers) promoted a series of unregulated collective investment schemes intended to take advantage of tax reliefs available on investments in TV productions. UK tax payers were entitled to write down 100% of any expenditure on a film or TV production certified as a British Qualifying Film. The schemes had not proved successful. Many of the productions were commercial failures and a number of them had not been certified as British Qualifying Films and were illegible for the tax relief that was the rationale behind the schemes. The claimants argued that money invested in th...