Pisante & Ors v Logothetis & Ors [2022] EWHC 161 (Comm) (28 January 2022)

Pisante & Ors v Logothetis & Ors [2022] EWHC 161 (Comm) (28 January 2022)

Mr Logothetis made statements to Mr Pisante, intending to induce investment, which were false and which he knew to be false or was reckless as to their truth. The court found that the representations regarding the absence of other partners and the financial position of Lomar were misleading and material, and that Mr...

Source-derived case information.

Citation
[2022] EWHC 161 (Comm)
Parties
Claimant: Victor Pisante; Claimant: Swindon Holdings & Finance Limited; Claimant: BCA Shipping Investment Corporation; Claimant: Castor Navigation Limited; Defendant: George Logothetis; Defendant: Lomar Corporation Limited; Defendant: Lomar Shipmanagement Limited; Defendant: Libra Holdings Limited
Jurisdiction
England and Wales
Judgment Date
28 January 2022
Procedural Posture
Commercial Court Trial / Judgment After Trial
Outcome
Judgment for the Claimants
Legal Topics
Deceit, Fraudulent Misrepresentation, Joint Venture, Shipping Investment, Contractual Inducement
Tort Commercial Law Deceit Fraudulent Misrepresentation Joint Venture Shipping Investment Contractual Inducement

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Parties

Victor Pisante

Claimant

Swindon Holdings & Finance Limited

Claimant

BCA Shipping Investment Corporation

Claimant

Castor Navigation Limited

Claimant

George Logothetis

Defendant

Lomar Corporation Limited

Defendant

Lomar Shipmanagement Limited

Defendant

Libra Holdings Limited

Defendant

Procedural Posture

Commercial Court Trial / Judgment After Trial

Legal Issues

  1. 1 Whether Mr Logothetis made false representations to Mr Pisante to induce investment
  2. 2 Whether such representations were made knowingly or recklessly as to their truth
  3. 3 Whether the elements of the tort of deceit are satisfied

Ratio Decidendi

Mr Logothetis made statements to Mr Pisante, intending to induce investment, which were false and which he knew to be false or was reckless as to their truth. The court found that the representations regarding the absence of other partners and the financial position of Lomar were misleading and material, and that Mr Pisante relied on them in deciding to invest. The elements of the tort of deceit were satisfied.

Court Disposition

Judgment for the Claimants

Orders

  • Defendants found liable in deceit for fraudulent misrepresentation inducing investment
  • Claimants entitled to damages to be assessed