FM Capital Partners Ltd v Marino & Ors

FM Capital Partners Ltd v Marino & Ors

The claimant is entitled to quantify the bribery/secret commission claim on its figures, to allocate recoveries and costs on a pro rata basis unless the claims are obviously unsustainable, and to receive indemnity costs. The proprietary claim over assets acquired with bribe monies succeeds against the fiduciary defendant. Election between account of profits and equitable compensation must be made as against each defendant but need not be consistent across all defendants. The claimant is entitled to an account of profits from the fiduciary and, in the case of dishonest assistance, only for profits actually received by the defendant. Quantum of equitable compensation is to be determined by...

Parties
Claimant: FM Capital Partners Ltd; First Defendant: Ric Marino; Second Defendant: Lien Bessot; Third Defendant: Yoshiki Ohmura; Fourth Defendant: Marit Sjøvaag
Jurisdiction
England and Wales
Judgment Date
01 November 2018
Procedural Posture
Commercial / Post Liability Consequentials Hearing and Orders
Outcome
Claimant's applications substantially allowed; orders made as set out in the judgment.
Legal Topics
Bribery, Secret Commissions, Fiduciary Duties, Account of Profits, Equitable Compensation, Proprietary Claims, Costs, Apportionment, Election of Remedies
Commercial Law Equity and Trusts Civil Procedure Bribery Secret Commissions Fiduciary Duties Account of Profits Equitable Compensation +4 more

Case Brief

Summary, issues, holding and outcome

More case intelligence is available

Unlock the full research layer for this judgment.

Full judgment text Downloadable case file Legal principles 5 Authorities cited 21 Party arguments 2 Amounts and remedies 5
Sign in to unlock

Parties

FM Capital Partners Ltd

Claimant

Ric Marino

First Defendant

Lien Bessot

Second Defendant

Yoshiki Ohmura

Third Defendant

Marit Sjøvaag

Fourth Defendant

Procedural Posture

Commercial / Post Liability Consequentials Hearing and Orders

Legal Issues

  1. 1 Proper quantification and allocation of bribery/secret commission claims
  2. 2 Appropriate apportionment of recoveries and costs between claims and defendants
  3. 3 Basis for indemnity costs and interim payments

Ratio Decidendi

The claimant is entitled to quantify the bribery/secret commission claim on its figures, to allocate recoveries and costs on a pro rata basis unless the claims are obviously unsustainable, and to receive indemnity costs. The proprietary claim over assets acquired with bribe monies succeeds against the fiduciary defendant. Election between account of profits and equitable compensation must be made as against each defendant but need not be consistent across all defendants. The claimant is entitled to an account of profits from the fiduciary and, in the case of dishonest assistance, only for profits actually received by the defendant. Quantum of equitable compensation is to be determined by...

Court Disposition

Claimant's applications substantially allowed; orders made as set out in the judgment.

Orders

  • Bribery/secret commission claim quantified on claimant's figures.
  • Recoveries and costs allocated pro rata as per claimant's schedules, with 30% deduction for taxation.