Alistair Kenneth Bruno Trow v Durmast Group Ltd

Alistair Kenneth Bruno Trow v Durmast Group Ltd

No actionable misrepresentation found; loan note claims succeed; employment contract salary obligation enforceable; bonus/dividend and profit share not contractually enforceable against company; pension entitlement limited to pre-sale arrangements; BUPA contributions recoverable.

Parties
Claimant: Alistair Kenneth Bruno Trow; Claimant: Stephen Roderick Trow; Claimant: Charlotte Jane Trow; Defendant: Durmast Group Ltd; Defendant: Duncan Richard Trow; Defendant: PFC Group Ltd
Jurisdiction
England and Wales
Judgment Date
23 June 2017
Procedural Posture
Civil / Trial Judgment
Outcome
Claimants succeed in loan note and salary claims; misrepresentation claim dismissed; pension entitlement limited; BUPA contributions recoverable.
Legal Topics
Loan Notes, Employment Contract, Shareholder Agreement, Dividend Policy, Pension Entitlement, Misrepresentation, Directors' Duties
Contract Employment Company Misrepresentation Loan Notes Employment Contract Shareholder Agreement Dividend Policy +2 more

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Parties

Alistair Kenneth Bruno Trow

Claimant

Stephen Roderick Trow

Claimant

Charlotte Jane Trow

Claimant

Durmast Group Ltd

Defendant

Duncan Richard Trow

Defendant

PFC Group Ltd

Defendant

Procedural Posture

Civil / Trial Judgment

Legal Issues

  1. 1 Whether misrepresentation occurred regarding inter-company margin in buyout
  2. 2 Entitlement to payment under loan notes
  3. 3 Entitlement to unpaid salary and bonus/dividend under employment and shareholder agreements

Ratio Decidendi

No actionable misrepresentation found; loan note claims succeed; employment contract salary obligation enforceable; bonus/dividend and profit share not contractually enforceable against company; pension entitlement limited to pre-sale arrangements; BUPA contributions recoverable.

Court Disposition

Claimants succeed in loan note and salary claims; misrepresentation claim dismissed; pension entitlement limited; BUPA contributions recoverable.

Orders

  • Durmast to pay principal and default interest on loan notes to Alistair and Rod.
  • Durmast to pay shortfall in contractual salary to Alistair.