GE Commercial Finance Ltd v Gee & Ors

GE Commercial Finance Ltd v Gee & Ors

Mr Gee and Mr Smedley knowingly made false representations to GE, including fictitious debts and misstatements in notifications and aged debt reports, with the intention and effect of inducing GE to make payments under the invoice discounting facility. Their actions constituted deceit and conspiracy to defraud, causing GE to suffer losses. Mr Ritchie was found to have knowingly made false representations in relation to certain notifications but was not found to be a conspirator. GE is entitled to damages for the losses directly caused by the deceit and conspiracy.

Parties
Claimant: GE Commercial Finance Limited; Defendant: David Gee; Defendant: Kevin Smedley; Defendant: John Steel; Defendant: Kevin Ritchie
Jurisdiction
England and Wales
Judgment Date
28 September 2005
Procedural Posture
Civil / Judgment After Trial
Outcome
Claim for damages for deceit and conspiracy succeeds against Mr Gee and Mr Smedley. Judgment for GE in the sum of £16,044,000. Further submissions invited on damages against Mr Ritchie.
Legal Topics
Deceit, Fraudulent Misrepresentation, Conspiracy, Damages, Invoice Discounting, Corporate Governance
Tort Commercial Law Banking and Finance Deceit Fraudulent Misrepresentation Conspiracy Damages Invoice Discounting +1 more

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Parties

GE Commercial Finance Limited

Claimant

David Gee

Defendant

Kevin Smedley

Defendant

John Steel

Defendant

Kevin Ritchie

Defendant

Procedural Posture

Civil / Judgment After Trial

Legal Issues

  1. 1 Whether the defendants made false representations to GE to induce payments under invoice discounting agreements
  2. 2 Whether the defendants conspired to defraud GE
  3. 3 Whether GE suffered loss as a result of deceit or conspiracy

Ratio Decidendi

Mr Gee and Mr Smedley knowingly made false representations to GE, including fictitious debts and misstatements in notifications and aged debt reports, with the intention and effect of inducing GE to make payments under the invoice discounting facility. Their actions constituted deceit and conspiracy to defraud, causing GE to suffer losses. Mr Ritchie was found to have knowingly made false representations in relation to certain notifications but was not found to be a conspirator. GE is entitled to damages for the losses directly caused by the deceit and conspiracy.

Court Disposition

Claim for damages for deceit and conspiracy succeeds against Mr Gee and Mr Smedley. Judgment for GE in the sum of £16,044,000. Further submissions invited on damages against Mr Ritchie.

Orders

  • Judgment for GE Commercial Finance Limited against David Gee and Kevin Smedley for £16,044,000.
  • Further submissions to be made regarding damages against Kevin Ritchie if requested.