Kiwak v Reiner [2017] EWHC 3018 (Ch) (29 November 2017)

Kiwak v Reiner [2017] EWHC 3018 (Ch) (29 November 2017)

No binding partnership or joint venture agreement was concluded between the parties, as the negotiations remained subject to contract and consensus was not reached on all material terms, particularly the provision of a second charge. The claimant's contributions were made on trust and not pursuant to a concluded contract. The failure to secure mortgage funding on Limes Avenue was not the fault of the defendants. The claimant is not entitled to a 50% interest in the property or an account of profits.

Citation
[2017] EWHC 3018 (Ch)
Parties
Claimant: Nison David Kiwak; First Defendant: Chaim Reiner; Second Defendant: CHMR Developments Limited
Jurisdiction
England and Wales
Judgment Date
29 November 2017
Procedural Posture
Chancery Division Claim / Judgment After Trial
Outcome
Claim dismissed
Legal Topics
Partnership Formation, Joint Venture Agreements, Enforceability of Heads of Terms, Beneficial Ownership of Property, Agency, Specific Performance, Breach of Contract
Equity and Trusts Contract Law Company Law Partnership Formation Joint Venture Agreements Enforceability of Heads of Terms Beneficial Ownership of Property Agency +2 more

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Parties

Nison David Kiwak

Claimant

Chaim Reiner

First Defendant

CHMR Developments Limited

Second Defendant

Procedural Posture

Chancery Division Claim / Judgment After Trial

Legal Issues

  1. 1 Whether a binding partnership or joint venture agreement was concluded between the parties
  2. 2 Whether the claimant is entitled to a 50% interest in the property or an account of profits
  3. 3 Whether the defendants breached any contractual or fiduciary obligations

Ratio Decidendi

No binding partnership or joint venture agreement was concluded between the parties, as the negotiations remained subject to contract and consensus was not reached on all material terms, particularly the provision of a second charge. The claimant's contributions were made on trust and not pursuant to a concluded contract. The failure to secure mortgage funding on Limes Avenue was not the fault of the defendants. The claimant is not entitled to a 50% interest in the property or an account of profits.

Court Disposition

Claim dismissed

Orders

  • No declaration of partnership or joint venture rights granted to the claimant
  • No order for account of profits or proprietary interest in the property