Griffin v Wainwright & Anor [2017] EWHC 2122 (Ch) (18 August 2017)

Griffin v Wainwright & Anor [2017] EWHC 2122 (Ch) (18 August 2017)

The expert materially departed from instructions by adjusting the property valuation based on Foxtons' marketing price instead of relying solely on the independent valuer's valuation as required by the letter of instruction, and breached procedural fairness by accepting further submissions from Mr Griffin without inviting Mr Wainwright to respond. These breaches rendered the determination invalid.

Citation
[2017] EWHC 2122 (Ch)
Parties
Petitioner: Robert Griffin; Respondent: David George Wainwright; Respondent: Hi2 Limited
Jurisdiction
England and Wales
Judgment Date
18 August 2017
Procedural Posture
Company Law Petition Under S.994 Companies Act 2006 / Judgment on Validity of Expert Determination
Outcome
Expert determination dated 17 May 2016 declared invalid.
Legal Topics
Expert Determination, Shareholder Disputes, Minority Shareholder Rights, Settlement Agreements
Company Law Contract Law Expert Determination Shareholder Disputes Minority Shareholder Rights Settlement Agreements

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Parties

Robert Griffin

Petitioner

David George Wainwright

Respondent

Hi2 Limited

Respondent

Procedural Posture

Company Law Petition Under S.994 Companies Act 2006 / Judgment on Validity of Expert Determination

Legal Issues

  1. 1 Whether the expert determination dated 17 May 2016 is valid and binding under the settlement agreement and letter of instruction
  2. 2 Whether the expert was functus officio after signing the original determination
  3. 3 Whether the expert departed materially from instructions regarding property valuation

Ratio Decidendi

The expert materially departed from instructions by adjusting the property valuation based on Foxtons' marketing price instead of relying solely on the independent valuer's valuation as required by the letter of instruction, and breached procedural fairness by accepting further submissions from Mr Griffin without inviting Mr Wainwright to respond. These breaches rendered the determination invalid.

Court Disposition

Expert determination dated 17 May 2016 declared invalid.

Orders

  • Further submissions to be heard on the injunction application in light of this judgment.
  • Continuation of interim undertakings given to Rose J pending resolution of injunction application.