Levack & Anor v Philip Ross & Co (a firm) & Anor [2019] EWHC 762 (Comm) (29 March 2019)

Levack & Anor v Philip Ross & Co (a firm) & Anor [2019] EWHC 762 (Comm) (29 March 2019)

Philip Ross held the Deposit and Completion Monies on trust for the joint and equal benefit of the Claimants and Mr Moeller/KGL, with an obligation to protect the Claimants' interest. Philip Ross breached trust by paying out the monies without protecting the Claimants' position. There is no realistic prospect of Philip Ross successfully defending the claim, and equitable compensation is appropriate.

Citation
[2019] EWHC 762 (Comm)
Parties
Claimant: Mr Paul Allen Levack; Claimant: APL Management Limited; First Defendant: Philip Ross & Co; Second Defendant: Mr John Bengt Moeller; Third Defendant: DDL 178 Limited
Jurisdiction
England and Wales
Judgment Date
29 March 2019
Procedural Posture
Commercial Court Summary Judgment Application / Summary Judgment Under CPR Part 24
Outcome
Summary judgment granted in favour of Claimants against Philip Ross & Co for breach of trust.
Legal Topics
Breach of Trust, Equitable Compensation, Summary Judgment, Quistclose Trusts
Trusts Equity Commercial Law Breach of Trust Equitable Compensation Summary Judgment Quistclose Trusts

Case Brief

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Parties

Mr Paul Allen Levack

Claimant

APL Management Limited

Claimant

Philip Ross & Co

First Defendant

Mr John Bengt Moeller

Second Defendant

DDL 178 Limited

Third Defendant

Procedural Posture

Commercial Court Summary Judgment Application / Summary Judgment Under CPR Part 24

Legal Issues

  1. 1 Nature and terms of the trusts over monies paid to solicitor
  2. 2 Whether monies were paid out in breach of trust
  3. 3 Entitlement to equitable compensation

Ratio Decidendi

Philip Ross held the Deposit and Completion Monies on trust for the joint and equal benefit of the Claimants and Mr Moeller/KGL, with an obligation to protect the Claimants' interest. Philip Ross breached trust by paying out the monies without protecting the Claimants' position. There is no realistic prospect of Philip Ross successfully defending the claim, and equitable compensation is appropriate.

Court Disposition

Summary judgment granted in favour of Claimants against Philip Ross & Co for breach of trust.

Orders

  • Declaratory relief in favour of both Claimants
  • Monetary judgment in favour of APL Management Limited for £5,171,705