Glenbrook Capital LP v Hamilton (t/a Hamiltons) [2014] EWHC 2297 (Comm) (11 July 2014)

Glenbrook Capital LP v Hamilton (t/a Hamiltons) [2014] EWHC 2297 (Comm) (11 July 2014)

The defendant failed to account for or deliver a substantial quantity of silver purchased for the claimant, provided no credible documentation, and fabricated evidence regarding delivery. The claimant is entitled to damages based on the value of the missing silver at the market peak, including a reasonable premium, less the value of silver eventually delivered. The defendant is not entitled to a profit share.

Citation
[2014] EWHC 2297 (Comm)
Parties
Claimant: Glenbrook Capital LP; Defendant: Mark Hamilton trading as Hamiltons
Jurisdiction
England and Wales
Judgment Date
11 July 2014
Procedural Posture
Commercial Court Claim / Assessment of Damages Following Default Judgment
Outcome
Judgment for the claimant on assessment of damages.
Legal Topics
Conversion, Damages, Breach of Fiduciary Duty, Remedies, Assessment of Damages
Commercial Law Tort Law Conversion Damages Breach of Fiduciary Duty Remedies Assessment of Damages

Case Brief

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Parties

Glenbrook Capital LP

Claimant

Mark Hamilton trading as Hamiltons

Defendant

Procedural Posture

Commercial Court Claim / Assessment of Damages Following Default Judgment

Legal Issues

  1. 1 What silverware was bought for the claimant and its value?
  2. 2 What items were lawfully disposed of before April 2011?
  3. 3 What damages are due for conversion of silver?

Ratio Decidendi

The defendant failed to account for or deliver a substantial quantity of silver purchased for the claimant, provided no credible documentation, and fabricated evidence regarding delivery. The claimant is entitled to damages based on the value of the missing silver at the market peak, including a reasonable premium, less the value of silver eventually delivered. The defendant is not entitled to a profit share.

Court Disposition

Judgment for the claimant on assessment of damages.

Orders

  • Damages awarded to the claimant in the sum of £406,760.33.
  • No entitlement to profit share for the defendant.