And The Law Says

Civil fraud cases in 2014 – a review of the year

January 23, 2015


2014 saw a number of notable civil fraud cases decided by the English Supreme Court and Court of Appeal. gunnercooke Partner Laurence Katz’s review on these has been published in the current issue of Fraud Intelligence, which can be viewed here: A year in court – notable civil fraud cases of 2014.

The review covers:

  • Williams v Central Bank of Nigeria, concerning the limitation period which applies to claims for dishonest assistance in a misapplication of trust assets by a trustee, or knowing receipt of trust assets in breach of trust.
  • Lakatamia Shipping Co v Su, concerning the appropriateness of modifying a freezing order to impose a notice requirement in respect of dealings in certain assets, which could not be shown at the interlocutory stage of proceedings to be legally or beneficially owned by the Defendant, but where those dealings could diminish the value of shareholdings of which the Defendant was the legal or beneficial owner.
  • Hone v Abbey Forwarding, on how damages should be assessed when the cross-undertaking in damages is called on because the injunction ought not to have been granted and loss has been suffered as a result.
  • Novoship (UK) Limited v Nikitin, on the remedies available for dishonest assistance, in particular, obtaining an account of profits against a dishonest assister.
  • FHR European Ventures LLP v Cedar Capital Partners, the Supreme Court’s decision that bribes and secret commissions are held on trust by an agent for his principal.
  • Energy Ventures Partners Limited v Malabu Oil & Gas Limited, the Court of Appeal’s decision on what test should be applied when deciding whether a claimant’s cross-undertaking in damages should be fortified.

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