Griffin v Awoderu & Anor [2007] EWHC 2775 (Ch) (27 September 2007)

Griffin v Awoderu & Anor [2007] EWHC 2775 (Ch) (27 September 2007)

The court found Griffin advanced funds as a lender under two separate contracts with guaranteed returns, not as an equity investor. Both Awoderu and Cole were parties to both agreements and are jointly liable to Griffin for the sums due. Awoderu and Cole must contribute equally to the liability. Damages and interest are awarded to Griffin as specified.

Citation
[2007] EWHC 2775 (Ch)
Parties
Claimant: Griffin; Defendant: Awoderu; Defendant/part 20 Defendant: Cole
Jurisdiction
England and Wales
Judgment Date
27 September 2007
Procedural Posture
Chancery Division Civil Claim With Part 20 Contribution Claim / Judgment After Trial
Outcome
Judgment for the claimant. Both Awoderu and Cole are jointly liable to Griffin for damages for breach of contract under both agreements. Cole must contribute equally to Awoderu's liability. Stay of execution against Cole regarding Fursecroft pending further proceedings.
Legal Topics
Breach of Contract, Joint Ventures, Damages, Contribution Between Tortfeasors, Property Investment Disputes
Contract Law Property Law Civil Procedure Breach of Contract Joint Ventures Damages Contribution Between Tortfeasors Property Investment Disputes

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Parties

Griffin

Claimant

Awoderu

Defendant

Cole

Defendant/part 20 Defendant

Procedural Posture

Chancery Division Civil Claim With Part 20 Contribution Claim / Judgment After Trial

Legal Issues

  1. 1 What were the terms of the agreements between Griffin, Awoderu, and Cole regarding 86 Portman Tower and Fursecroft?
  2. 2 Was Griffin entitled to repayment and specified returns as a lender, or was he an equity investor?
  3. 3 Are Awoderu and Cole jointly liable to Griffin for breach of contract?

Ratio Decidendi

The court found Griffin advanced funds as a lender under two separate contracts with guaranteed returns, not as an equity investor. Both Awoderu and Cole were parties to both agreements and are jointly liable to Griffin for the sums due. Awoderu and Cole must contribute equally to the liability. Damages and interest are awarded to Griffin as specified.

Court Disposition

Judgment for the claimant. Both Awoderu and Cole are jointly liable to Griffin for damages for breach of contract under both agreements. Cole must contribute equally to Awoderu's liability. Stay of execution against Cole regarding Fursecroft pending further proceedings.

Orders

  • Awoderu and Cole to pay Griffin £270,000 plus interest for the first agreement.
  • Awoderu and Cole to pay Griffin £150,000 plus rental value and interest for the second agreement.