Cosimo Borrelli & Ors v Mutaz Otaibi & Ors

Cosimo Borrelli & Ors v Mutaz Otaibi & Ors

None of the claims pleaded in the APOAC against Mr Wang disclose reasonable grounds or a realistic prospect of success; the pleading is deficient in all respects and does not meet the required legal standards for unlawful means conspiracy, dishonest assistance, inducing breach of contract, negligence, or contribution. Permission to amend is refused and the original pleading is struck out.

Parties
Claimant: Cosimo Borrelli; Claimant: Colin Wilson; Claimant: Mitchell Mansfield; Claimant: Global Fixed Income Fund 1 Limited; Claimant: Real Assets (RA) Global Opportunity Fund 1 Ltd.; Claimant: Principal Investing Fund I Limited; Claimant: Long View II Limited; Claimant: Springs Farm Limited; Claimant: Springs Farm Services Limited; Claimant: Shanti; Claimant: Mahi Lending Services Limited; Claimant: Chesham Holdco; Claimant: 1 Chesham Close Limited; Claimant: 3 Chesham Close Limited; Claimant: 4 Chesham Close Limited; Claimant: RAGOF Heusenstamm S.A.R.L.; Claimant: Wanderers Holdco Limited; Claimant: Silvertown Limited; Claimant: Castletown Lending Limited; Claimant: MREF III Hayes Ltd; Claimant: RAGOF 33 Grosvenor Street Limited; Claimant: RAGOF Colmore Row Limited; Claimant: RAGOF Spencer House Limited; Defendant: Mutaz Otaibi; Defendant: Hussam Otaibi; Defendant: James Wilcox; Defendant: Floreat Real Asset Investment Management Ltd; Defendant: Floreat Investment Management Limited; Defendant: Floreat Global Fixed Income Management Limited; Defendant: Floreat Principal Investing Limited; Defendant: LV II Investment Management Limited; Defendant: Floreat Real Estate Limited (UK); Defendant: Floreat Capital Markets Limited; Defendant: Floreat Merchant Banking Limited; Defendant: Floreat Wealth Management Limited; Defendant: Floreat Holding Limited; Defendant: Floreat Real Estate Limited (Jersey); Defendant: Floreat Principal Investment Management Limited; Defendant: Studio 51 North Limited; Defendant: Springs Equestrian Estate Limited; Defendant: FFI Aviation Portfolio Limited; Defendant: Trustee or Trustees (Identity or Identities Unknown) of the Floreat Purpose Trust; Defendant: FFI Aviation MSN 1407 (Guernsey) Limited; Defendant: FFI Aviation MSN 1518 Limited; Defendant: FFI Aviation MSN 1310 LLC; Defendant: FFI Fixed Income SA; Defendant: IR Relations Ltd.; Defendant: Floreat Aviation Services Limited; Defendant: Benjamin Churchill; Defendant: Oumar Diallo; Defendant: Zaki Mohammed Nuseibeh; Part20defendant: Chia Hsing Wang
Jurisdiction
England and Wales
Judgment Date
15 December 2025
Procedural Posture
Commercial / Application to Strike Out and for Summary Judgment; Application for Permission to Amend Pleadings
Outcome
application granted
Legal Topics
Strike Out, Summary Judgment, Contribution Claims, Unlawful Means Conspiracy, Dishonest Assistance, Inducing Breach of Contract, Negligence, Pleading Requirements
Civil Procedure Company Law Trusts and Fiduciary Law Strike Out Summary Judgment Contribution Claims Unlawful Means Conspiracy Dishonest Assistance +3 more

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Parties

Cosimo Borrelli

Claimant

Colin Wilson

Claimant

Mitchell Mansfield

Claimant

Global Fixed Income Fund 1 Limited

Claimant

Real Assets (RA) Global Opportunity Fund 1 Ltd.

Claimant

Principal Investing Fund I Limited

Claimant

Long View II Limited

Claimant

Springs Farm Limited

Claimant

Springs Farm Services Limited

Claimant

Shanti

Claimant

Mahi Lending Services Limited

Claimant

Chesham Holdco

Claimant

1 Chesham Close Limited

Claimant

3 Chesham Close Limited

Claimant

4 Chesham Close Limited

Claimant

RAGOF Heusenstamm S.A.R.L.

Claimant

Wanderers Holdco Limited

Claimant

Silvertown Limited

Claimant

Castletown Lending Limited

Claimant

MREF III Hayes Ltd

Claimant

RAGOF 33 Grosvenor Street Limited

Claimant

RAGOF Colmore Row Limited

Claimant

RAGOF Spencer House Limited

Claimant

Mutaz Otaibi

Defendant

Hussam Otaibi

Defendant

James Wilcox

Defendant

Floreat Real Asset Investment Management Ltd

Defendant

Floreat Investment Management Limited

Defendant

Floreat Global Fixed Income Management Limited

Defendant

Floreat Principal Investing Limited

Defendant

LV II Investment Management Limited

Defendant

Floreat Real Estate Limited (UK)

Defendant

Floreat Capital Markets Limited

Defendant

Floreat Merchant Banking Limited

Defendant

Floreat Wealth Management Limited

Defendant

Floreat Holding Limited

Defendant

Floreat Real Estate Limited (Jersey)

Defendant

Floreat Principal Investment Management Limited

Defendant

Studio 51 North Limited

Defendant

Springs Equestrian Estate Limited

Defendant

FFI Aviation Portfolio Limited

Defendant

Trustee or Trustees (Identity or Identities Unknown) of the Floreat Purpose Trust

Defendant

FFI Aviation MSN 1407 (Guernsey) Limited

Defendant

FFI Aviation MSN 1518 Limited

Defendant

FFI Aviation MSN 1310 LLC

Defendant

FFI Fixed Income SA

Defendant

IR Relations Ltd.

Defendant

Floreat Aviation Services Limited

Defendant

Benjamin Churchill

Defendant

Oumar Diallo

Defendant

Zaki Mohammed Nuseibeh

Defendant

Chia Hsing Wang

Part20defendant

Procedural Posture

Commercial / Application to Strike Out and for Summary Judgment; Application for Permission to Amend Pleadings

Legal Issues

  1. 1 Whether the draft Amended Particulars of Additional Claim (APOAC) disclose reasonable grounds for a contribution claim against Mr Wang
  2. 2 Whether the APOAC pleads coherent claims in unlawful means conspiracy, dishonest assistance, inducing breach of contract, knowing receipt, and negligence
  3. 3 Whether permission to amend should be granted or the claim struck out/summary judgment entered

Ratio Decidendi

None of the claims pleaded in the APOAC against Mr Wang disclose reasonable grounds or a realistic prospect of success; the pleading is deficient in all respects and does not meet the required legal standards for unlawful means conspiracy, dishonest assistance, inducing breach of contract, negligence, or contribution. Permission to amend is refused and the original pleading is struck out.

Court Disposition

application granted

Orders

  • Permission to amend APOAC refused
  • Unamended Particulars of Additional Claim struck out