FM Capital Partners Ltd v Marino & Ors

FM Capital Partners Ltd v Marino & Ors

The appropriate basis for quantum is the full amount of the GAIN Ironfly Commissions. Recoveries from Ms Sjøvaag and Mr Haggiagi are collateral and not to be credited, but any recoveries from Mr Marino must be credited. Compound interest is awarded against Mr Ohmura as a dishonest assistant.

Parties
Claimant: FM Capital Partners Ltd; Defendant: Frederic Marino; Defendant: Aurélien Bessot; Defendant: Yoshiki Ohmura; Defendant: Marit Sjøvaag
Jurisdiction
England and Wales
Judgment Date
28 March 2019
Procedural Posture
Commercial Court Quantum Determination Following Liability Judgment / Post Liability Quantum Assessment and Directions
Outcome
Quantum determined in favour of FMCP; directions for final order to be agreed by parties.
Legal Topics
Dishonest Assistance, Equitable Compensation, Quantum Assessment, Compound Interest, Collateral Recoveries
Equity Commercial Law Dishonest Assistance Equitable Compensation Quantum Assessment Compound Interest Collateral Recoveries

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Parties

FM Capital Partners Ltd

Claimant

Frederic Marino

Defendant

Aurélien Bessot

Defendant

Yoshiki Ohmura

Defendant

Marit Sjøvaag

Defendant

Procedural Posture

Commercial Court Quantum Determination Following Liability Judgment / Post Liability Quantum Assessment and Directions

Legal Issues

  1. 1 Appropriate basis for quantum assessment of equitable compensation for dishonest assistance
  2. 2 Whether recoveries from third parties should be credited against liability
  3. 3 Whether compound or simple interest should be awarded

Ratio Decidendi

The appropriate basis for quantum is the full amount of the GAIN Ironfly Commissions. Recoveries from Ms Sjøvaag and Mr Haggiagi are collateral and not to be credited, but any recoveries from Mr Marino must be credited. Compound interest is awarded against Mr Ohmura as a dishonest assistant.

Court Disposition

Quantum determined in favour of FMCP; directions for final order to be agreed by parties.

Orders

  • Mr Ohmura to pay FMCP the full amount of the GAIN Ironfly Commissions, subject to credit for any recoveries from Mr Marino.
  • Compound interest to be paid by Mr Ohmura as sought by FMCP.