Njord Partners Sma-Seal LP & Ors v Astir Maritime Ltd & Ors [2024] EWHC 1682 (Comm) (03 July 2024)

Njord Partners Sma-Seal LP & Ors v Astir Maritime Ltd & Ors [2024] EWHC 1682 (Comm) (03 July 2024)

The court found that Tahir knowingly made false representations as to his net worth and the reasons for delay in repayment, intending to induce the lenders to provide and maintain the facility. The court found that Ali was aware of the falsity of the representations and participated in the conspiracy to deceive the lenders. The claimants relied on the representations and suffered loss as a result. The elements of deceit and conspiracy were established on the balance of probabilities.

Citation
[2024] EWHC 1682 (Comm)
Parties
Claimant: NJORD PARTNERS SMA-SEAL LP; Claimant: NPSSF DEBT CO. S. A. R. L.; Claimant: AIE III INVESTMENTS, L. P; Claimant: NORDIC TRUSTEE A/S; Defendant: ASTIR MARITIME LTD; Defendant: MUHAMMAD TAHIR LAKHANI; Defendant: MUHAMMAD ALI LAKHANI
Jurisdiction
England and Wales
Judgment Date
03 July 2024
Procedural Posture
Commercial Court Claim (tort of Deceit and Conspiracy) / Final Judgment After Trial
Outcome
Judgment for the claimants
Legal Topics
Fraud, Deceit, Conspiracy, Facility Agreements, Personal Guarantees, Misrepresentation
Commercial Law Tort Law Banking and Finance Fraud Deceit Conspiracy Facility Agreements Personal Guarantees +1 more

Case Brief

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Parties

NJORD PARTNERS SMA-SEAL LP

Claimant

NPSSF DEBT CO. S. A. R. L.

Claimant

AIE III INVESTMENTS, L. P

Claimant

NORDIC TRUSTEE A/S

Claimant

ASTIR MARITIME LTD

Defendant

MUHAMMAD TAHIR LAKHANI

Defendant

MUHAMMAD ALI LAKHANI

Defendant

Procedural Posture

Commercial Court Claim (tort of Deceit and Conspiracy) / Final Judgment After Trial

Legal Issues

  1. 1 Whether the defendants made fraudulent misrepresentations to the lenders
  2. 2 Whether the defendants conspired to injure the lenders by unlawful means
  3. 3 Whether the claimants relied on the misrepresentations and suffered loss

Ratio Decidendi

The court found that Tahir knowingly made false representations as to his net worth and the reasons for delay in repayment, intending to induce the lenders to provide and maintain the facility. The court found that Ali was aware of the falsity of the representations and participated in the conspiracy to deceive the lenders. The claimants relied on the representations and suffered loss as a result. The elements of deceit and conspiracy were established on the balance of probabilities.

Court Disposition

Judgment for the claimants

Orders

  • Defendants held liable for deceit and conspiracy
  • Damages to be assessed for losses suffered by claimants