Tuke v Hood & Anor

Tuke v Hood & Anor

Damages for loss of investment opportunity must be calculated by comparing the value of the asset at the time of sale and its present value, avoiding double counting with the base claim; no credit for sums received is required; interest at 4.5% compounded is appropriate; costs awarded on indemnity basis; permission to appeal and stay of execution refused.

Parties
Claimant: Michael Anthony Tuke; Defendant: Derek Hood; Defendant: J D Classics Limited (in Administration); Interested Party: Kevin Hellard and Amanda Wade
Jurisdiction
England and Wales
Judgment Date
18 January 2021
Procedural Posture
Commercial Fraud Claim / Post Trial Consequential Judgment
Outcome
Judgment for claimant; consequential orders issued.
Legal Topics
Calculation of Damages, Loss of Investment Opportunity, Interest on Damages, Costs, Permission to Appeal, Stay of Execution
Civil Procedure Fraud Damages Calculation of Damages Loss of Investment Opportunity Interest on Damages Costs Permission to Appeal +1 more

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Parties

Michael Anthony Tuke

Claimant

Derek Hood

Defendant

J D Classics Limited (in Administration)

Defendant

Kevin Hellard and Amanda Wade

Interested Party

Procedural Posture

Commercial Fraud Claim / Post Trial Consequential Judgment

Legal Issues

  1. 1 Whether damages for loss of investment opportunity were calculated correctly without double counting
  2. 2 Whether credit should be given for sums received by claimant
  3. 3 Appropriate rate and award of interest

Ratio Decidendi

Damages for loss of investment opportunity must be calculated by comparing the value of the asset at the time of sale and its present value, avoiding double counting with the base claim; no credit for sums received is required; interest at 4.5% compounded is appropriate; costs awarded on indemnity basis; permission to appeal and stay of execution refused.

Court Disposition

Judgment for claimant; consequential orders issued.

Orders

  • Damages for base claims: £4,247,000
  • Damages for loss of investment opportunity: £6,879,480