Giannis Ntzegkoutanis v Georgios Kimionis & Ors.

Giannis Ntzegkoutanis v Georgios Kimionis & Ors.

The compensation and constructive trust claims in the petition are struck out as against the respondent because they are claims that ought to have been pursued by way of a derivative claim, cannot be conveniently adjudicated within the unfair prejudice petition proceedings, and their inclusion constitutes an abuse of process.

Parties
Petitioner: Giannis Ntzegkoutanis; First Respondent: Georgios Kimionis; Second Respondent: Coinomi Limited; Third Respondent: Coinomi Holdings Limited (Cyprus); Fourth Respondent: Coinomi Limited (BVI)
Jurisdiction
England and Wales
Judgment Date
21 December 2022
Procedural Posture
Unfair Prejudice Petition Under Companies Act 2006 / Ruling on Application to Strike Out or for Reverse Summary Judgment
Outcome
Application granted in part; compensation and constructive trust claims struck out as against the respondent.
Legal Topics
Unfair Prejudice, Derivative Claims, Director's Duties, Abuse of Process, Remedies for Breach of Fiduciary Duty
Company Law Civil Procedure Unfair Prejudice Derivative Claims Director's Duties Abuse of Process Remedies for Breach of Fiduciary Duty

Case Brief

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Parties

Giannis Ntzegkoutanis

Petitioner

Georgios Kimionis

First Respondent

Coinomi Limited

Second Respondent

Coinomi Holdings Limited (Cyprus)

Third Respondent

Coinomi Limited (BVI)

Fourth Respondent

Procedural Posture

Unfair Prejudice Petition Under Companies Act 2006 / Ruling on Application to Strike Out or for Reverse Summary Judgment

Legal Issues

  1. 1 Whether compensation and constructive trust claims in an unfair prejudice petition should be struck out as an abuse of process or for lack of reasonable grounds
  2. 2 Whether such claims ought to be pursued by way of derivative action rather than unfair prejudice petition
  3. 3 Whether the court can conveniently adjudicate on these claims within the petition proceedings

Ratio Decidendi

The compensation and constructive trust claims in the petition are struck out as against the respondent because they are claims that ought to have been pursued by way of a derivative claim, cannot be conveniently adjudicated within the unfair prejudice petition proceedings, and their inclusion constitutes an abuse of process.

Court Disposition

Application granted in part; compensation and constructive trust claims struck out as against the respondent.

Orders

  • Paragraphs 32.2 and 32.3 of the petition are struck out as against the respondent.
  • Further directions and costs to be determined after hearing from counsel.