Akintunde Giwa v JNFX Limited & Ors

Akintunde Giwa v JNFX Limited & Ors

Mr Mervyn is liable in deceit for false representations regarding use and payment of Naira sums. JNFX is liable for Mr Mervyn’s deceit due to his ostensible authority. JNFX’s standard terms do not preclude liability as they were not incorporated. JNFX has no realistic prospect of defending the deceit claim or reducing quantum by credits. Frontier is also liable for deceit.

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
11 November 2024
Procedural Posture
Civil / Summary Judgment and Strike Out Application
Outcome
Summary judgment granted for deceit claim against JNFX and Mr Mervyn; Defence struck out; Default judgment entered against Mr Mervyn and Frontier for other claims; Contractual claim against JNFX to proceed to trial.
Legal Topics
Deceit, Ostensible Authority, Summary Judgment, Strike Out, Foreign Exchange Contracts, Default Judgment
Civil Fraud Agency Law Contract Law Deceit Ostensible Authority Summary Judgment Strike Out Foreign Exchange Contracts +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

Civil / Summary Judgment and Strike Out Application

Legal Issues

  1. 1 Whether Mr Mervyn is liable in deceit
  2. 2 Whether Mr Mervyn had ostensible authority to bind JNFX
  3. 3 Whether JNFX's standard terms of business preclude liability

Ratio Decidendi

Mr Mervyn is liable in deceit for false representations regarding use and payment of Naira sums. JNFX is liable for Mr Mervyn’s deceit due to his ostensible authority. JNFX’s standard terms do not preclude liability as they were not incorporated. JNFX has no realistic prospect of defending the deceit claim or reducing quantum by credits. Frontier is also liable for deceit.

Court Disposition

Summary judgment granted for deceit claim against JNFX and Mr Mervyn; Defence struck out; Default judgment entered against Mr Mervyn and Frontier for other claims; Contractual claim against JNFX to proceed to trial.

Orders

  • JNFX and Mr Mervyn to pay Naira 7,914,209,196.50 plus interest for deceit.
  • JNFX’s Defence struck out as to deceit and standard terms.