Marco Maximilian Elser v Andrea Mandel-Mantello & Ors

Marco Maximilian Elser v Andrea Mandel-Mantello & Ors

The court finds that in late 2012, in response to regulatory advice, the parties expressly agreed that Advicorp PLC would hold the shares in Advihair SRL as nominee for Managest, subject to a trust for Elser as to 50%. Subsequent conduct, communications, and inherent probabilities confirm Elser's continued beneficial ownership. The claim is not barred by laches, waiver, or disclaimer, and Mandel-Mantello is not entitled to an equitable allowance.

Parties
Claimant: Marco Maximilian Elser; First Defendant: Andrea Mandel-Mantello; Second Defendant: Advicorp PLC; Third Defendant: Managest B.V.; Fourth Defendant: Galdam Limited
Jurisdiction
England and Wales
Judgment Date
23 June 2025
Procedural Posture
Civil / Final Judgment
Outcome
Claim allowed
Legal Topics
Express Trusts, Beneficial Ownership, Laches, Just Allowance, Corporate Shareholding, Nominee Arrangements
Trusts Company Law Equity Express Trusts Beneficial Ownership Laches Just Allowance Corporate Shareholding +1 more

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Parties

Marco Maximilian Elser

Claimant

Andrea Mandel-Mantello

First Defendant

Advicorp PLC

Second Defendant

Managest B.V.

Third Defendant

Galdam Limited

Fourth Defendant

Procedural Posture

Civil / Final Judgment

Legal Issues

  1. 1 Whether Advicorp PLC holds shares in Advihair SRL on trust for Marco Maximilian Elser
  2. 2 Whether Elser's claim is barred by laches
  3. 3 Whether Elser gave up any right to the shares by signing a disclaimer upon resignation

Ratio Decidendi

The court finds that in late 2012, in response to regulatory advice, the parties expressly agreed that Advicorp PLC would hold the shares in Advihair SRL as nominee for Managest, subject to a trust for Elser as to 50%. Subsequent conduct, communications, and inherent probabilities confirm Elser's continued beneficial ownership. The claim is not barred by laches, waiver, or disclaimer, and Mandel-Mantello is not entitled to an equitable allowance.

Court Disposition

Claim allowed

Orders

  • Declaration that Advicorp PLC holds 50% of its shares in Advihair SRL on trust for Marco Maximilian Elser
  • No bar to claim by laches, waiver, or disclaimer