Sattar v Sattar & Anor [2009] EWHC 289 (Ch) (20 February 2009)

Sattar v Sattar & Anor [2009] EWHC 289 (Ch) (20 February 2009)

Clause 5 of the settlement agreement confers authority on Naeem Sattar to engage corporate advisers on behalf of Strangewood Limited, including agreeing reasonable terms for their engagement, and obliges Bashir Sattar and the Company to provide management information. The loan account should be set to nil as at 6 February 2008, and the £250,000 payment under clause 7 should be treated as a loan to Bashir, not Naeem.

Citation
[2009] EWHC 289 (Ch)
Parties
Claimant: Naeem Sattar; First Defendant: Bashir Sattar; Second Defendant: Strangewood Limited
Jurisdiction
England and Wales
Judgment Date
20 February 2009
Procedural Posture
Chancery Division Implementation of Tomlin Order / Post Settlement Applications Under Tomlin Order
Outcome
Judgment for Naeem Sattar on all points.
Legal Topics
Interpretation of Settlement Agreements, Authority of Agents, Corporate Governance, Loan Account Treatment, Disclosure of Information
Contract Law Company Law Interpretation of Settlement Agreements Authority of Agents Corporate Governance Loan Account Treatment Disclosure of Information

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Parties

Naeem Sattar

Claimant

Bashir Sattar

First Defendant

Strangewood Limited

Second Defendant

Procedural Posture

Chancery Division Implementation of Tomlin Order / Post Settlement Applications Under Tomlin Order

Legal Issues

  1. 1 Whether Naeem Sattar had authority to engage corporate advisers on behalf of Strangewood Limited under the settlement agreement
  2. 2 Whether Bashir Sattar and Strangewood Limited were obliged to provide management information to Mazars
  3. 3 Proper accounting treatment of Naeem Sattar's loan account with Strangewood Limited as at 6 February 2008

Ratio Decidendi

Clause 5 of the settlement agreement confers authority on Naeem Sattar to engage corporate advisers on behalf of Strangewood Limited, including agreeing reasonable terms for their engagement, and obliges Bashir Sattar and the Company to provide management information. The loan account should be set to nil as at 6 February 2008, and the £250,000 payment under clause 7 should be treated as a loan to Bashir, not Naeem.

Court Disposition

Judgment for Naeem Sattar on all points.

Orders

  • Naeem Sattar has authority to engage Mazars as corporate advisers for Strangewood Limited.
  • Bashir Sattar must procure Strangewood Limited to provide all management information requested by Mazars.