Merito Financial Services Ltd v Yelloly [2016] EWHC 2067 (Ch) (11 August 2016)

Merito Financial Services Ltd v Yelloly [2016] EWHC 2067 (Ch) (11 August 2016)

Default judgment is granted for specified sums in categories b., c., and d. where the claims are properly particularised as to amount, but for categories a. and e., where the sums are not unequivocally specified or require an account or assessment, judgment is only for damages or equitable compensation to be assessed. The Defendant may challenge causation and quantum at the assessment stage, provided such challenge is not inconsistent with the liability established by the default judgment.

Citation
[2016] EWHC 2067 (Ch)
Parties
Claimant: Merito Financial Services Limited; Defendant: David Yelloly
Jurisdiction
England and Wales
Judgment Date
11 August 2016
Procedural Posture
Civil (chancery Division) / Application for Default Judgment Following Strike Out of Defence; Assessment of Entitlement to Specified Sums or Damages to Be Assessed
Outcome
Default judgment granted in part for specified sums; in part for damages/equitable compensation to be assessed.
Legal Topics
Default Judgment, Breach of Fiduciary Duty, Breach of Trust, Unjust Enrichment, Assessment of Damages, Restitution, Directors' Duties
Company Law Equity and Trusts Civil Procedure Default Judgment Breach of Fiduciary Duty Breach of Trust Unjust Enrichment Assessment of Damages +2 more

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Parties

Merito Financial Services Limited

Claimant

David Yelloly

Defendant

Procedural Posture

Civil (chancery Division) / Application for Default Judgment Following Strike Out of Defence; Assessment of Entitlement to Specified Sums or Damages to Be Assessed

Legal Issues

  1. 1 Whether the Claimant is entitled to default judgment for specified sums or only for damages/equitable compensation to be assessed under CPR 12.11; Whether the claims pleaded constitute claims for specified amounts of money or require assessment of quantum; Whether causation and quantum can be challenged by the Defendant at the damages assessment stage

Ratio Decidendi

Default judgment is granted for specified sums in categories b., c., and d. where the claims are properly particularised as to amount, but for categories a. and e., where the sums are not unequivocally specified or require an account or assessment, judgment is only for damages or equitable compensation to be assessed. The Defendant may challenge causation and quantum at the assessment stage, provided such challenge is not inconsistent with the liability established by the default judgment.

Court Disposition

Default judgment granted in part for specified sums; in part for damages/equitable compensation to be assessed.

Orders

  • Default judgment for the Claimant for £54,231 (category c.) and interest;
  • Default judgment for the Claimant for £104,780.28 (category b., excluding c.) and interest;