Candy Ventures SARL v Aaqua BV & Anor [2025] EWHC 2877 (Comm) (05 November 2025)

Candy Ventures SARL v Aaqua BV & Anor [2025] EWHC 2877 (Comm) (05 November 2025)

The defendants, through Mr Bonnier, made fraudulent misrepresentations to CVS regarding imminent investments by Apple and LVMH, the existence of binding conditions precedent, and the advanced stage of negotiations, knowing these statements to be false and intending to induce CVS to enter into the Three Agreements. CVS relied on these misrepresentations, which were fundamental to its decision, and suffered loss by exchanging valuable Audioboom shares for Aaqua shares of negligible value. The court is satisfied, on cogent evidence and applying the high civil standard, that all elements of the tort of deceit are made out. Damages are the appropriate remedy.

Citation
[2025] EWHC 2877 (Comm)
Parties
Claimant: Candy Ventures SARL; First Defendant: Aaqua BV; Second Defendant: Robert Bonnier
Jurisdiction
England and Wales
Judgment Date
05 November 2025
Procedural Posture
Fraudulent Misrepresentation / Tort of Deceit Claim / Post Trial Judgment After Debarring Order; Trial on Damages Only
Outcome
Claim for fraudulent misrepresentation succeeds; judgment for the claimant for damages.
Legal Topics
Fraudulent Misrepresentation, Tort of Deceit, Damages, Debarring Orders, Procedural Sanctions, Reliance, Rescission, Standard of Proof in Fraud, Article 6 ECHR
Commercial Law Fraud Contract Law Tort Law Fraudulent Misrepresentation Tort of Deceit Damages Debarring Orders +5 more

Case Brief

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Parties

Candy Ventures SARL

Claimant

Aaqua BV

First Defendant

Robert Bonnier

Second Defendant

Procedural Posture

Fraudulent Misrepresentation / Tort of Deceit Claim / Post Trial Judgment After Debarring Order; Trial on Damages Only

Legal Issues

  1. 1 Whether the defendants made fraudulent misrepresentations to induce the claimant to enter into agreements
  2. 2 Whether the representations were false and known to be false
  3. 3 Whether the claimant relied on the representations

Ratio Decidendi

The defendants, through Mr Bonnier, made fraudulent misrepresentations to CVS regarding imminent investments by Apple and LVMH, the existence of binding conditions precedent, and the advanced stage of negotiations, knowing these statements to be false and intending to induce CVS to enter into the Three Agreements. CVS relied on these misrepresentations, which were fundamental to its decision, and suffered loss by exchanging valuable Audioboom shares for Aaqua shares of negligible value. The court is satisfied, on cogent evidence and applying the high civil standard, that all elements of the tort of deceit are made out. Damages are the appropriate remedy.

Court Disposition

Claim for fraudulent misrepresentation succeeds; judgment for the claimant for damages.

Orders

  • Defendants jointly and severally liable to pay damages to the claimant for deceit.
  • Assessment of damages to be conducted in accordance with the court's findings.