Giwa v JNFX Ltd & Ors [2024] EWHC 735 (Ch) (02 April 2024)

Giwa v JNFX Ltd & Ors [2024] EWHC 735 (Ch) (02 April 2024)

The court found that Mr Mervyn made fraudulent representations (deceit) regarding the use and payment of funds, that JNFX is liable for Mr Mervyn's deceit due to overwhelming evidence of ostensible authority, and that JNFX's standard terms were not incorporated into the contracts. JNFX had no realistic prospect of defending the deceit claim or reducing the quantum below Naira 7,914,209,196.50. Summary judgment was granted for that sum against JNFX, Mr Mervyn, and Frontier.

Citation
[2024] EWHC 735 (Ch)
Parties
Claimant: Akintunde Giwa; First Defendant: JNFX Limited; Second Defendant: Ashay Mervyn; Third Defendant: JNFX Nigeria Limited; Fourth Defendant: Frontier Financial Technologies Limited
Jurisdiction
England and Wales
Judgment Date
02 April 2024
Procedural Posture
Commercial Claim (business List, Chancery Division) / Summary Judgment and Strike Out Application
Outcome
Summary judgment granted in part; defence struck out in part; default judgment entered in part; contractual claim to proceed to trial.
Legal Topics
Deceit, Ostensible Authority, Summary Judgment, Foreign Exchange Fraud, Vicarious Liability, Default Judgment
Commercial Law Tort Law Agency Law Deceit Ostensible Authority Summary Judgment Foreign Exchange Fraud Vicarious Liability +1 more

Case Brief

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Parties

Akintunde Giwa

Claimant

JNFX Limited

First Defendant

Ashay Mervyn

Second Defendant

JNFX Nigeria Limited

Third Defendant

Frontier Financial Technologies Limited

Fourth Defendant

Procedural Posture

Commercial Claim (business List, Chancery Division) / Summary Judgment and Strike Out Application

Legal Issues

  1. 1 Whether Mr Mervyn is liable in deceit for misrepresentations regarding use and payment of funds under the MultiChoice Contracts
  2. 2 Whether JNFX is liable for Mr Mervyn's deceit on the basis of ostensible authority
  3. 3 Whether JNFX's standard terms of business preclude liability

Ratio Decidendi

The court found that Mr Mervyn made fraudulent representations (deceit) regarding the use and payment of funds, that JNFX is liable for Mr Mervyn's deceit due to overwhelming evidence of ostensible authority, and that JNFX's standard terms were not incorporated into the contracts. JNFX had no realistic prospect of defending the deceit claim or reducing the quantum below Naira 7,914,209,196.50. Summary judgment was granted for that sum against JNFX, Mr Mervyn, and Frontier.

Court Disposition

Summary judgment granted in part; defence struck out in part; default judgment entered in part; contractual claim to proceed to trial.

Orders

  • Summary judgment for Mr Giwa against JNFX, Mr Mervyn, and Frontier for deceit in the sum of Naira 7,914,209,196.50 plus interest.
  • JNFX's defence struck out as to deceit and reliance on standard terms.