Harris & Anor v Charalambous

Harris & Anor v Charalambous

The court found that on 21 February 2008, the defendant agreed to pay the claimants £562,000, by £100,000 in cash and the balance in shares in a new hotel business in Crete. The agreement was not conditional upon the resignation or share transfer by the first claimant. The defendant failed to pay, and the claimants are entitled to judgment for £562,000 less credit for £39,900 received. The counterclaim fails.

Parties
Claimant: Stephen Ronald Harris; Claimant: Alec Louis Symeoudis; Defendant: Charles Charalambous
Jurisdiction
England and Wales
Judgment Date
07 June 2013
Procedural Posture
Civil / Judgment After Trial
Outcome
Judgment for the claimants; counterclaim dismissed
Legal Topics
Account Stated, Accord and Satisfaction, Breach of Contract, Settlement Agreement
Contract Law Account Stated Accord and Satisfaction Breach of Contract Settlement Agreement

Case Brief

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Parties

Stephen Ronald Harris

Claimant

Alec Louis Symeoudis

Claimant

Charles Charalambous

Defendant

Procedural Posture

Civil / Judgment After Trial

Legal Issues

  1. 1 Whether an agreement was reached on 21 February 2008 for the defendant to pay the claimants £562,000, and if so, on what terms
  2. 2 Whether the defendant's obligation was conditional upon the resignation and share transfer by the first claimant
  3. 3 Whether the defendant is entitled to credit for payments made by Annette Bergen

Ratio Decidendi

The court found that on 21 February 2008, the defendant agreed to pay the claimants £562,000, by £100,000 in cash and the balance in shares in a new hotel business in Crete. The agreement was not conditional upon the resignation or share transfer by the first claimant. The defendant failed to pay, and the claimants are entitled to judgment for £562,000 less credit for £39,900 received. The counterclaim fails.

Court Disposition

Judgment for the claimants; counterclaim dismissed

Orders

  • Defendant to pay claimants £522,100 (being £562,000 less £39,900 credit)
  • Interest to be determined after hearing counsel