Quick Draw LP v Global Live Events LLP & Ors

Quick Draw LP v Global Live Events LLP & Ors

The Debenture and Loan Agreement operated as a mortgage and assignment, covering present and future debts and intellectual property rights. GLE held BEP Refund and SEL Amount on trust for Quick Draw and breached trust by misapplying them. Mr Hunt, Mr Henry, and Iambic dishonestly assisted in breach of trust and Iambic received SEL Amount knowingly. Intellectual property rights in the Concert vested in GLE and passed to Quick Draw. The counterclaim for malicious falsehood fails due to lack of malice and valid ownership by Quick Draw.

Parties
Claimant: Quick Draw LP; First Defendant: Global Live Events LLP; Second Defendant: Christopher Hunt; Third Defendant: Michael Henry; Fourth Defendant: Iambic Media Limited
Jurisdiction
England and Wales
Judgment Date
30 July 2012
Procedural Posture
Civil / Final Judgment
Outcome
Judgment for Claimant
Legal Topics
Copyright, Breach of Trust, Assignment of Rights, Malicious Falsehood, Contract Interpretation, Dishonest Assistance, Knowing Receipt
Intellectual Property Commercial Law Trusts and Equity Copyright Breach of Trust Assignment of Rights Malicious Falsehood Contract Interpretation +2 more

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Parties

Quick Draw LP

Claimant

Global Live Events LLP

First Defendant

Christopher Hunt

Second Defendant

Michael Henry

Third Defendant

Iambic Media Limited

Fourth Defendant

Procedural Posture

Civil / Final Judgment

Legal Issues

  1. 1 Whether GLE breached trust in relation to BEP Refund and SEL Amount
  2. 2 Whether Mr Hunt, Mr Henry, and Iambic were liable for dishonest assistance and knowing receipt
  3. 3 Ownership and assignment of intellectual property rights in the Concert

Ratio Decidendi

The Debenture and Loan Agreement operated as a mortgage and assignment, covering present and future debts and intellectual property rights. GLE held BEP Refund and SEL Amount on trust for Quick Draw and breached trust by misapplying them. Mr Hunt, Mr Henry, and Iambic dishonestly assisted in breach of trust and Iambic received SEL Amount knowingly. Intellectual property rights in the Concert vested in GLE and passed to Quick Draw. The counterclaim for malicious falsehood fails due to lack of malice and valid ownership by Quick Draw.

Court Disposition

Judgment for Claimant

Orders

  • GLE liable for full amount due under Loan Agreement and Debenture, including accounts and indemnities.
  • GLE, Mr Hunt, Mr Henry, and Iambic to account for BEP Refund and SEL Amount; Mr Hunt liable for dishonest assistance (BEP Refund); Mr Hunt, Mr Henry, and Iambic liable for dishonest assistance (SEL Amount); Iambic liable for knowing receipt (SEL Amount).