Main & Orsv (Giambrone & Law (a firm) & Ors

Main & Orsv (Giambrone & Law (a firm) & Ors

Giambrone breached its duty as trustee and solicitor by releasing client deposits without obtaining compliant guarantees and without disclosure of commission payments, contrary to the Solicitors’ Accounts Rules and the terms of its retainer. The claimants’ losses were a direct result of these breaches and within the scope of Giambrone’s duties. The SAAMCO principle did not limit recovery because Giambrone was responsible for guiding the claimants through the transaction, not merely providing information. The appeal was dismissed on all grounds.

Parties
Claimants/respondents: Main & Ors; Defendants/appellants: Giambrone & Law (a firm), Alessandra Bellanca, Anna Cinzia D'Arpa, Gabriele Giambrone
Jurisdiction
England and Wales
Judgment Date
31 July 2017
Procedural Posture
Civil Appeal / Appeal From High Court to Court of Appeal
Outcome
Appeal dismissed
Legal Topics
Solicitors' Duties, Equitable Compensation, Breach of Trust, Solicitors’ Accounts Rules, SAAMCO Principles, Planning Permission, Organised Crime Disclosure
Professional Negligence Trust Law Contract Law Solicitors' Duties Equitable Compensation Breach of Trust Solicitors’ Accounts Rules SAAMCO Principles +2 more

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Parties

Main & Ors

Claimants/respondents

Giambrone & Law (a firm), Alessandra Bellanca, Anna Cinzia D'Arpa, Gabriele Giambrone

Defendants/appellants

Procedural Posture

Civil Appeal / Appeal From High Court to Court of Appeal

Legal Issues

  1. 1 Whether claimants are entitled to equitable compensation for lost deposits due to solicitors' breach of trust
  2. 2 Whether losses suffered are within the scope of solicitors’ duties under contract and trust
  3. 3 Whether payment of commission to VFI without disclosure was a breach of trust

Ratio Decidendi

Giambrone breached its duty as trustee and solicitor by releasing client deposits without obtaining compliant guarantees and without disclosure of commission payments, contrary to the Solicitors’ Accounts Rules and the terms of its retainer. The claimants’ losses were a direct result of these breaches and within the scope of Giambrone’s duties. The SAAMCO principle did not limit recovery because Giambrone was responsible for guiding the claimants through the transaction, not merely providing information. The appeal was dismissed on all grounds.

Court Disposition

Appeal dismissed

Orders

  • Claimants recover equitable compensation for lost deposits as determined by the High Court
  • No relief granted to Giambrone under Trustee Act 1925 s.61