Bibby Financial Services & Anor v Magson & Ors [2011] EWHC 3285 (QB) (14 November 2011)

Bibby Financial Services & Anor v Magson & Ors [2011] EWHC 3285 (QB) (14 November 2011)

The claims against the first and second defendants were dismissed because the guarantees were intended to be deeds but were not delivered as such. Both sides were criticised for their conduct, but the general rule that costs follow the event applied. The defendants were awarded their costs on the standard basis, with payments on account ordered, as the claimants failed to prove their case and ignored evidence contrary to their allegations.

Citation
[2011] EWHC 3285 (QB)
Parties
Claimant: Bibby Financial Services and another; First Defendant: Richard Magson; Second Defendant: Robert Scott
Jurisdiction
England and Wales
Judgment Date
14 November 2011
Procedural Posture
Civil (commercial/contract) / Post Trial, Costs Judgment
Outcome
Claims dismissed; costs awarded to first and second defendants.
Legal Topics
Guarantees, Costs Orders, Conditional Fee Agreements, Fraud Allegations, Disclosure
Civil Procedure Contract Law Guarantees Costs Orders Conditional Fee Agreements Fraud Allegations Disclosure

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Parties

Bibby Financial Services and another

Claimant

Richard Magson

First Defendant

Robert Scott

Second Defendant

Procedural Posture

Civil (commercial/contract) / Post Trial, Costs Judgment

Legal Issues

  1. 1 Whether guarantees sued upon were delivered as deeds
  2. 2 Appropriate order as to costs given conduct of parties
  3. 3 Effect of offers to settle on costs

Ratio Decidendi

The claims against the first and second defendants were dismissed because the guarantees were intended to be deeds but were not delivered as such. Both sides were criticised for their conduct, but the general rule that costs follow the event applied. The defendants were awarded their costs on the standard basis, with payments on account ordered, as the claimants failed to prove their case and ignored evidence contrary to their allegations.

Court Disposition

Claims dismissed; costs awarded to first and second defendants.

Orders

  • Claimant to pay first defendant £500,000 on account of costs, assessed on the standard basis.
  • Claimant to pay second defendant £150,000 on account of costs, assessed on the standard basis.