Trafalgar Multi Asset Trading Company Limited v James David Hadley & Ors

Trafalgar Multi Asset Trading Company Limited v James David Hadley & Ors

Mr Wright was entitled to a payment on account of costs, but at a reduced amount due to evidential deficiencies; Claimant's application to make Mr Wright jointly liable for CGrowth's costs was refused as CGrowth was the real party with multiple stakeholders and no impropriety was established; compound interest was granted on damages as defendants fell within the equitable fraud and fiduciary limbs, and joint and several liability applies to conspirators and dishonest assisters.

Parties
Claimant: Trafalgar Multi Asset Trading Company Limited (in liquidation); Defendant: James David Hadley; Defendant: Thomas William Gordon Biggar; Defendant: Stuart Neil Chapman-Clark; Defendant: Andrew Christopher Jones; Defendant: Titan Capital Partners Limited; Defendant: CGrowth Capital Bond Limited; Defendant: William Macfarland Wright III; Defendant: Pinnacle Brokers Limited (in liquidation); Defendant: Mark Lloyd; Defendant: Vivere Forti International Foundation; Defendant: Kirsty Louise Platt; Defendant: Platinum Pyramid Limited (in liquidation); Defendant: Bentley Jarrard Thwaite
Jurisdiction
England and Wales
Judgment Date
11 October 2024
Procedural Posture
Civil / Post Liability Consequential Hearing
Outcome
Claimant's application for joint liability in costs dismissed; payment on account of costs awarded to Mr Wright at £15,000; compound interest granted on damages.
Legal Topics
Costs, Compound Interest, Director Liability, Bribery, Conspiracy, Fiduciary Duty, Dishonest Assistance, Knowing Receipt
Civil Procedure Company Law Equity Fraud Costs Compound Interest Director Liability Bribery +4 more

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Parties

Trafalgar Multi Asset Trading Company Limited (in liquidation)

Claimant

James David Hadley

Defendant

Thomas William Gordon Biggar

Defendant

Stuart Neil Chapman-Clark

Defendant

Andrew Christopher Jones

Defendant

Titan Capital Partners Limited

Defendant

CGrowth Capital Bond Limited

Defendant

William Macfarland Wright III

Defendant

Pinnacle Brokers Limited (in liquidation)

Defendant

Mark Lloyd

Defendant

Vivere Forti International Foundation

Defendant

Kirsty Louise Platt

Defendant

Platinum Pyramid Limited (in liquidation)

Defendant

Bentley Jarrard Thwaite

Defendant

Procedural Posture

Civil / Post Liability Consequential Hearing

Legal Issues

  1. 1 Whether Mr Wright should receive a payment on account of costs
  2. 2 Whether Mr Wright should be made jointly liable with CGrowth for CGrowth's costs liability
  3. 3 Whether compound interest should be awarded on damages

Ratio Decidendi

Mr Wright was entitled to a payment on account of costs, but at a reduced amount due to evidential deficiencies; Claimant's application to make Mr Wright jointly liable for CGrowth's costs was refused as CGrowth was the real party with multiple stakeholders and no impropriety was established; compound interest was granted on damages as defendants fell within the equitable fraud and fiduciary limbs, and joint and several liability applies to conspirators and dishonest assisters.

Court Disposition

Claimant's application for joint liability in costs dismissed; payment on account of costs awarded to Mr Wright at £15,000; compound interest granted on damages.

Orders

  • Mr Wright awarded £15,000 payment on account of costs, set off against existing liability to Claimant.
  • Claimant's application to make Mr Wright jointly liable for CGrowth's costs dismissed.