The Financial Conduct Authority v Da Vinci Invest Ltd & Ors

The Financial Conduct Authority v Da Vinci Invest Ltd & Ors

Mr. Pornye's failure to comply with the unless order was serious and significant, he provided no good reason for the breach, and his underlying set aside application lacked merit given his knowledge and involvement in the proceedings. Relief from sanctions was not justified.

Source-derived case information.

Parties
Claimant: The Financial Conduct Authority; Defendant: Da Vinci Invest Limited; Defendant: Da Vinci Invest PTE Limited; Defendant: Mineworld Limited; Defendant: Szabolcs Banya; Defendant: Gyorgy Szabolcs Brad; Defendant: Tamas Pornye; Defendant: Bivonas Law LLP
Jurisdiction
England and Wales
Judgment Date
06 September 2017
Procedural Posture
Civil / Application for Relief From Sanctions Following Dismissal of Set Aside Application
Outcome
application dismissed
Legal Topics
Relief From Sanctions, Unless Orders, Market Abuse, Service of Process, Representation Authority
Civil Procedure Financial Regulation Relief From Sanctions Unless Orders Market Abuse Service of Process Representation Authority

Source-derived case record

Summary, issues, holding and outcome

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Parties

The Financial Conduct Authority

Claimant

Da Vinci Invest Limited

Defendant

Da Vinci Invest PTE Limited

Defendant

Mineworld Limited

Defendant

Szabolcs Banya

Defendant

Gyorgy Szabolcs Brad

Defendant

Tamas Pornye

Defendant

Bivonas Law LLP

Defendant

Procedural Posture

Civil / Application for Relief From Sanctions Following Dismissal of Set Aside Application

Legal Issues

  1. 1 Whether Mr. Pornye should be granted relief from sanctions for failing to comply with an unless order
  2. 2 Whether Mr. Pornye's set aside application has merit given his knowledge of proceedings and representation
  3. 3 Whether Article 6 ECHR entitles Mr. Pornye to translation of all trial documents

Ratio Decidendi

Mr. Pornye's failure to comply with the unless order was serious and significant, he provided no good reason for the breach, and his underlying set aside application lacked merit given his knowledge and involvement in the proceedings. Relief from sanctions was not justified.

Court Disposition

application dismissed

Orders

  • Mr. Pornye’s application of 4 August 2016 for relief from sanctions is dismissed.