Thevarajah & Anor v Riordan & Ors [2014] EWHC 725 (Ch) (21 March 2014)

Thevarajah & Anor v Riordan & Ors [2014] EWHC 725 (Ch) (21 March 2014)

The claimant is entitled to specific performance for the transfer of the remaining 50% of shares in PPD and repayment of £72,000, but not to a declaration or payment regarding PPD's debts, as such relief was neither pleaded nor supported by the evidence. Damages for 'The Jester' and 'The Devonshire' are nil, as current market values do not exceed the agreed purchase prices.

Citation
[2014] EWHC 725 (Ch)
Parties
Claimant: Thavatheva Thevarajah; Claimant: Southern Territory Limited; Defendant: John Riordan; Defendant: Eugene Burke; Defendant: Prestige Property Developer UK Limited; Defendant: Barrington Burke
Jurisdiction
England and Wales
Judgment Date
21 March 2014
Procedural Posture
Part 7 Claim (originally Part 8) / Judgment Following Default and Application for Specific Performance and Damages
Outcome
Partially allowed
Legal Topics
Specific Performance, Damages Assessment, Default Judgment, Share Purchase Agreements, Freezing Injunctions
Contract Law Company Law Property Law Specific Performance Damages Assessment Default Judgment Share Purchase Agreements Freezing Injunctions

Case Brief

Summary, issues, holding and outcome

More case intelligence is available

Unlock the full research layer for this judgment.

Full judgment text Downloadable case file Legal principles 2 Authorities cited 4 Party arguments 2 Amounts and remedies 2
Sign in to unlock

Parties

Thavatheva Thevarajah

Claimant

Southern Territory Limited

Claimant

John Riordan

Defendant

Eugene Burke

Defendant

Prestige Property Developer UK Limited

Defendant

Barrington Burke

Defendant

Procedural Posture

Part 7 Claim (originally Part 8) / Judgment Following Default and Application for Specific Performance and Damages

Legal Issues

  1. 1 Whether the claimant is entitled to specific performance of share transfer in PPD relating to 'The Jewel'
  2. 2 Whether the claimant is entitled to repayment of £72,000
  3. 3 Whether the claimant is entitled to a declaration and payment regarding PPD's debts

Ratio Decidendi

The claimant is entitled to specific performance for the transfer of the remaining 50% of shares in PPD and repayment of £72,000, but not to a declaration or payment regarding PPD's debts, as such relief was neither pleaded nor supported by the evidence. Damages for 'The Jester' and 'The Devonshire' are nil, as current market values do not exceed the agreed purchase prices.

Court Disposition

Partially allowed

Orders

  • Defendants to transfer remaining 50% of shares in PPD to Mr Thevarajah.
  • Mr Thevarajah to procure transfer of 'The Castle' by PPD to the defendants or their nominee at the same time as the share transfer.