Van Zuylen v Whiston-Dew & Anor [2021] EWHC 2219 (Ch) (04 August 2021)

Van Zuylen v Whiston-Dew & Anor [2021] EWHC 2219 (Ch) (04 August 2021)

The First Defendant and GBT received and controlled the Claimant's funds as bare trustees, not under the Azure Trust, and breached fiduciary duties by failing to account and misapplying assets. The Azure Trust was not validly constituted or endowed with the Claimant's assets. The First Defendant acted fraudulently and deceitfully. GBT is liable as a constructive trustee. The Claimant is entitled to restitution, tracing, and equitable remedies. Claims for fraud survive bankruptcy.

Citation
[2021] EWHC 2219 (Ch)
Parties
Claimant: Baroness Jacqueline Van Zuylen; First Defendant: Rodney Whiston-Dew; Second Defendant: GBT Global Limited
Jurisdiction
England and Wales
Judgment Date
04 August 2021
Procedural Posture
Chancery Companies List / Final Judgment After Trial
Outcome
Judgment for the Claimant against the First Defendant and GBT Global Limited.
Legal Topics
Constructive Trust, Resulting Trust, Breach of Fiduciary Duty, Deceit, Breach of FSMA, Breach of Contract, Restitution, Tracing, Corporate Veil, Bankruptcy
Trusts Fraud Company Law Insolvency Constructive Trust Resulting Trust Breach of Fiduciary Duty Deceit +6 more

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Parties

Baroness Jacqueline Van Zuylen

Claimant

Rodney Whiston-Dew

First Defendant

GBT Global Limited

Second Defendant

Procedural Posture

Chancery Companies List / Final Judgment After Trial

Legal Issues

  1. 1 Whether the First Defendant and GBT held the Claimant's funds on trust and breached fiduciary duties
  2. 2 Whether the Azure Trust was validly constituted and relevant to the Claimant's claims
  3. 3 Whether the First Defendant committed deceit and fraud

Ratio Decidendi

The First Defendant and GBT received and controlled the Claimant's funds as bare trustees, not under the Azure Trust, and breached fiduciary duties by failing to account and misapplying assets. The Azure Trust was not validly constituted or endowed with the Claimant's assets. The First Defendant acted fraudulently and deceitfully. GBT is liable as a constructive trustee. The Claimant is entitled to restitution, tracing, and equitable remedies. Claims for fraud survive bankruptcy.

Court Disposition

Judgment for the Claimant against the First Defendant and GBT Global Limited.

Orders

  • Declaration that the Claimant's funds were held on constructive trust by GBT and the First Defendant
  • Order for restitution of misapplied funds