Hotel Portfolio II UK Limited (in Liquidation) & Anor v Andrew Joseph Ruhan & Anor

Hotel Portfolio II UK Limited (in Liquidation) & Anor v Andrew Joseph Ruhan & Anor

The court granted limited declaratory relief reflecting findings that Cambulo Madeira and Phoenix acted as Mr Ruhan’s nominees and that assets acquired under the Geneva Settlement were held for Mr Ruhan. Joinder of Grenda post-judgment was refused as inappropriate. Judgment was entered against Mr Ruhan and Mr...

Source-derived case information.

Parties
Claimant: Hotel Portfolio II UK Limited (in Liquidation); Claimant: Elizabeth Alexandra Aird-Brown (as Liquidator of Hotel Portfolio II UK Limited); Defendant: Andrew Joseph Ruhan; Defendant: Anthony Edward Stevens; Defendant: Phoenix Group Foundation; Defendant: Minardi Investments Limited; Interested Party: Tania Jane Richardson
Jurisdiction
England and Wales
Judgment Date
04 July 2022
Procedural Posture
Commercial / Post Judgment Consequential Hearing
Outcome
Judgment for claimants with declarations, monetary relief, interest, and costs; permission to appeal granted to Mr Stevens on limited grounds; joinder of Grenda refused.
Legal Topics
Breach of Fiduciary Duty, Constructive Trust, Dishonest Assistance, Declaratory Relief, Compound Interest, Equitable Compensation, Costs, Joinder of Parties, Permission to Appeal
Equity and Trusts Company Law Civil Procedure Breach of Fiduciary Duty Constructive Trust Dishonest Assistance Declaratory Relief Compound Interest +4 more

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Parties

Hotel Portfolio II UK Limited (in Liquidation)

Claimant

Elizabeth Alexandra Aird-Brown (as Liquidator of Hotel Portfolio II UK Limited)

Claimant

Andrew Joseph Ruhan

Defendant

Anthony Edward Stevens

Defendant

Phoenix Group Foundation

Defendant

Minardi Investments Limited

Defendant

Tania Jane Richardson

Interested Party

Procedural Posture

Commercial / Post Judgment Consequential Hearing

Legal Issues

  1. 1 What declarations should be made to give effect to the judgment?
  2. 2 Should Grenda Investments Ltd be joined to the proceedings post-judgment?
  3. 3 What principal sums, interest, and costs should be ordered against the defendants?

Ratio Decidendi

The court granted limited declaratory relief reflecting findings that Cambulo Madeira and Phoenix acted as Mr Ruhan’s nominees and that assets acquired under the Geneva Settlement were held for Mr Ruhan. Joinder of Grenda post-judgment was refused as inappropriate. Judgment was entered against Mr Ruhan and Mr Stevens for £7.76m and £94.5m, with compound interest at 2.5% over base, six-monthly rests, and payment within 28 days. Costs were ordered on a joint and several indemnity basis, with a payment on account of £2m and further interim payments for Deeds of Indemnity. Permission to appeal was granted to Mr Stevens on certain grounds, with security for appeal costs ordered but no stay of...

Court Disposition

Judgment for claimants with declarations, monetary relief, interest, and costs; permission to appeal granted to Mr Stevens on limited grounds; joinder of Grenda refused.

Orders

  • Declarations as to nominee status and constructive trust as specified in the judgment
  • Judgment against Mr Ruhan and Mr Stevens for £7.76m and £94.5m