Mercy Global Consult Ltd v Adegbuyi-Jackson & Ors (Re Consequential Matters) (Rev1) [2024] EWHC 171 (Ch) (31 January 2024)

Mercy Global Consult Ltd v Adegbuyi-Jackson & Ors (Re Consequential Matters) (Rev1) [2024] EWHC 171 (Ch) (31 January 2024)

Equitable compensation must be calculated net of all assets to which proprietary claims have been established, with credit given at purchase price (less sale costs) in the absence of evidence of current value, and no double recovery is permitted. Debarring orders preclude defendants from contesting quantum. Costs are awarded to the claimant except against defendants where the claim failed or settled. Interest is awarded at the HMRC late payment rate. Applications for post-judgment relief and rent are deferred to a forthcoming hearing.

Citation
[2024] EWHC 171 (Ch)
Parties
Claimant: Mercy Global Consult Ltd (in Liquidation); First Defendant: Mr Abayomi Adegbuyi-Jackson; Second Defendant: Alain Ludovic Boisdur; Third Defendant: Mr Michael Osemwegie; Fourth Defendant: Mr Abayomi Ayankunle Olunlade; Fifth Defendant: Mrs Gift Enoch; Sixth Defendant: Mrs Funmilayo Ojuolape Adegbuyi-Jackson; Seventh Defendant: Cornerstone Global System UK Ltd; Eighth Defendant: Mercy Global Properties Solutions Ltd; Ninth Defendant: Dominion Payroll Solutions Ltd; Tenth Defendant: Olugbenga Titus Jones Somade; Eleventh Defendant: Ojuolape Arcade Ltd; Twelfth Defendant: Adekanmi (also known as Kanmi) Olaolu Adedire; Thirteenth Defendant: DMO Consultancy & Accounting Services Ltd; Fourteenth Defendant: Purpose IP Consult Ltd; Fifteenth Defendant: Hanstal Consulting Limited
Jurisdiction
England and Wales
Judgment Date
31 January 2024
Procedural Posture
Civil Chancery Division / Post Trial Consequential Hearing
Outcome
Equitable compensation and costs orders made; applications for post-judgment relief and rent deferred; permission to appeal and adjournment refused.
Legal Topics
Equitable Compensation, Proprietary Claims, Freezing Orders, Costs, Interest, Case Management, Liquidation
Equity Company Law Insolvency Civil Procedure Equitable Compensation Proprietary Claims Freezing Orders Costs +3 more

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Parties

Mercy Global Consult Ltd (in Liquidation)

Claimant

Mr Abayomi Adegbuyi-Jackson

First Defendant

Alain Ludovic Boisdur

Second Defendant

Mr Michael Osemwegie

Third Defendant

Mr Abayomi Ayankunle Olunlade

Fourth Defendant

Mrs Gift Enoch

Fifth Defendant

Mrs Funmilayo Ojuolape Adegbuyi-Jackson

Sixth Defendant

Cornerstone Global System UK Ltd

Seventh Defendant

Mercy Global Properties Solutions Ltd

Eighth Defendant

Dominion Payroll Solutions Ltd

Ninth Defendant

Olugbenga Titus Jones Somade

Tenth Defendant

Ojuolape Arcade Ltd

Eleventh Defendant

Adekanmi (also known as Kanmi) Olaolu Adedire

Twelfth Defendant

DMO Consultancy & Accounting Services Ltd

Thirteenth Defendant

Purpose IP Consult Ltd

Fourteenth Defendant

Hanstal Consulting Limited

Fifteenth Defendant

Procedural Posture

Civil Chancery Division / Post Trial Consequential Hearing

Legal Issues

  1. 1 Calculation of equitable compensation after findings of fraud and breach of duty
  2. 2 Appropriate credits for assets subject to proprietary claims
  3. 3 Entitlement to post-judgment relief (freezing, charging, third party debt orders)

Ratio Decidendi

Equitable compensation must be calculated net of all assets to which proprietary claims have been established, with credit given at purchase price (less sale costs) in the absence of evidence of current value, and no double recovery is permitted. Debarring orders preclude defendants from contesting quantum. Costs are awarded to the claimant except against defendants where the claim failed or settled. Interest is awarded at the HMRC late payment rate. Applications for post-judgment relief and rent are deferred to a forthcoming hearing.

Court Disposition

Equitable compensation and costs orders made; applications for post-judgment relief and rent deferred; permission to appeal and adjournment refused.

Orders

  • Equitable compensation awarded against specified defendants, net of proprietary credits at purchase price less sale costs.
  • Total sum recoverable capped to prevent double recovery, net of proprietary credits.