Oak Investment Partners XII Ltd Partnership v Boughtwood & Ors

Oak Investment Partners XII Ltd Partnership v Boughtwood & Ors

The court found that the parties intended the assignment of intellectual property rights to be in return for £750,000, that the deed's acknowledgment of payment was a mistake, and that QED owes PML the sum as a debt. Estoppel arguments fail because there was no genuine shared assumption that payment had been made.

Parties
Petitioner: Oak Investment Partners XII, Limited Partnership; Respondent: Martin Boughtwood; Respondent: Andrew Boughtwood; Respondent: Stephen Bennett; Respondent: QED Group Limited
Jurisdiction
England and Wales
Judgment Date
27 March 2009
Procedural Posture
Company Law Petition / Post Trial Supplemental Judgment
Outcome
QED owes PML £750,000 as a debt for the assignment of intellectual property rights.
Legal Topics
Debt Arising From Assignment of Intellectual Property, Rectification of Deed, Estoppel by Deed, Estoppel by Convention
Company Law Contract Law Debt Arising From Assignment of Intellectual Property Rectification of Deed Estoppel by Deed Estoppel by Convention

Case Brief

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Parties

Oak Investment Partners XII, Limited Partnership

Petitioner

Martin Boughtwood

Respondent

Andrew Boughtwood

Respondent

Stephen Bennett

Respondent

QED Group Limited

Respondent

Procedural Posture

Company Law Petition / Post Trial Supplemental Judgment

Legal Issues

  1. 1 Whether QED owes PML £750,000 as a debt for the assignment of intellectual property rights
  2. 2 Whether the deed's acknowledgment of payment precludes a claim for the debt
  3. 3 Whether estoppel by deed or estoppel by convention applies

Ratio Decidendi

The court found that the parties intended the assignment of intellectual property rights to be in return for £750,000, that the deed's acknowledgment of payment was a mistake, and that QED owes PML the sum as a debt. Estoppel arguments fail because there was no genuine shared assumption that payment had been made.

Court Disposition

QED owes PML £750,000 as a debt for the assignment of intellectual property rights.

Orders

  • QED to pay PML £750,000