Eleftheriou& Ors v Costi & Anor [2013] EWHC 2168 (Ch) (18 July 2013)

Eleftheriou& Ors v Costi & Anor [2013] EWHC 2168 (Ch) (18 July 2013)

No binding contract was concluded; Defendants paid £150,000 in anticipation of completion which did not occur. Claimants must repay £113,350 after set-off for occupation and stock. No purpose trust arose as no express stipulation restricted use of funds. Defendants liable for £31,650 for use and occupation. Claimants not entitled to further sums or interest.

Citation
[2013] EWHC 2168 (Ch)
Parties
Claimant: Lefterakis Eleftheriou; Claimant: Anastasios Karageorge; Claimant: Helen Karageorge; Defendant: Glen Costi; Defendant: Christine Sydney Costi
Jurisdiction
England and Wales
Judgment Date
18 July 2013
Procedural Posture
Chancery Division Civil Claim / Final Judgment
Outcome
Claimants must repay Defendants £113,350; Defendants liable for £31,650 for occupation; Claimants not entitled to further sums or interest.
Legal Topics
Failure of Consideration, Purpose Trust, Tenancy at Will, Restitution, Oral Agreements, Estoppel
Property Law Equity Contract Law Failure of Consideration Purpose Trust Tenancy at Will Restitution Oral Agreements +1 more

Case Brief

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Parties

Lefterakis Eleftheriou

Claimant

Anastasios Karageorge

Claimant

Helen Karageorge

Claimant

Glen Costi

Defendant

Christine Sydney Costi

Defendant

Procedural Posture

Chancery Division Civil Claim / Final Judgment

Legal Issues

  1. 1 Are Defendants liable to pay for use and occupation of the property?
  2. 2 Are Claimants entitled to retain monies received or are they held on trust for Defendants?
  3. 3 Are Claimants entitled to further sums?

Ratio Decidendi

No binding contract was concluded; Defendants paid £150,000 in anticipation of completion which did not occur. Claimants must repay £113,350 after set-off for occupation and stock. No purpose trust arose as no express stipulation restricted use of funds. Defendants liable for £31,650 for use and occupation. Claimants not entitled to further sums or interest.

Court Disposition

Claimants must repay Defendants £113,350; Defendants liable for £31,650 for occupation; Claimants not entitled to further sums or interest.

Orders

  • Claimants to pay Defendants £113,350.
  • Defendants to pay Claimants £31,650 for use and occupation.