Group Seven Ltd & Anor v Notable Services LLP & Anor (Rev 2)

Group Seven Ltd & Anor v Notable Services LLP & Anor (Rev 2)

Mr Landman and Notable Services LLP are liable for dishonest assistance in breach of trust and fiduciary duty because Mr Landman had blind-eye knowledge that Larn was not beneficially entitled to the €100 million and acted dishonestly in facilitating payments. The chain of causation was not broken by Notable’s conduct, and LLB Verwaltung (Switzerland) AG is vicariously liable for Mr Louanjli’s wrongdoing due to the close connection between his employment and the acts.

Parties
Appellant: Group Seven Limited; Appellant: Rheingold Management Inc.; Appellant: Equity Trading Systems Limited; Appellant: LLB Verwaltung (Switzerland) AG; Appellant: Othman Louanjli; Respondent: Notable Services LLP; Respondent: Martin Landman; Respondent: Francesco Meduri; Respondent: Cristina Ciserani
Jurisdiction
England and Wales
Judgment Date
11 April 2019
Procedural Posture
Civil Appeal / Court of Appeal Judgment
Outcome
Appeal allowed in part and dismissed in part
Legal Topics
Dishonest Assistance, Vicarious Liability, Breach of Trust, Fiduciary Duty, Money Laundering, Causation, Unconscionable Receipt
Equity Trusts Tort Company Law Dishonest Assistance Vicarious Liability Breach of Trust Fiduciary Duty +3 more

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Parties

Group Seven Limited

Appellant

Rheingold Management Inc.

Appellant

Equity Trading Systems Limited

Appellant

LLB Verwaltung (Switzerland) AG

Appellant

Othman Louanjli

Appellant

Notable Services LLP

Respondent

Martin Landman

Respondent

Francesco Meduri

Respondent

Cristina Ciserani

Respondent

Procedural Posture

Civil Appeal / Court of Appeal Judgment

Legal Issues

  1. 1 Whether Mr Landman and Notable Services LLP are liable for dishonest assistance in breach of trust and fiduciary duty
  2. 2 Whether Mr Louanjli’s conduct caused Group Seven’s losses or was a break in the chain of causation
  3. 3 Whether LLB Verwaltung (Switzerland) AG is vicariously liable for Mr Louanjli’s wrongdoing

Ratio Decidendi

Mr Landman and Notable Services LLP are liable for dishonest assistance in breach of trust and fiduciary duty because Mr Landman had blind-eye knowledge that Larn was not beneficially entitled to the €100 million and acted dishonestly in facilitating payments. The chain of causation was not broken by Notable’s conduct, and LLB Verwaltung (Switzerland) AG is vicariously liable for Mr Louanjli’s wrongdoing due to the close connection between his employment and the acts.

Court Disposition

Appeal allowed in part and dismissed in part

Orders

  • Liability for dishonest assistance imposed on Notable Services LLP and Martin Landman
  • Vicarious liability imposed on LLB Verwaltung (Switzerland) AG for Mr Louanjli’s wrongdoing