Benedetti & Anor v Sawiris & Ors

Benedetti & Anor v Sawiris & Ors

Defendants are jointly liable for €75.1 million quantum meruit award as all benefited from claimant's services; interest awarded at 1% above Euribor from date of judgment only; claimant to pay defendants' costs due to rejection of October agreement and partial success; permission to appeal granted to both sides; stay of judgment pending appeal subject to bank guarantee.

Parties
Claimant: Alessandro Benedetti; Claimant: M Finance SA; Defendant: Naguib Onsi Naguib Sawiris; Defendant: April Holding; Defendant: OS Holding; Defendant: Cylo Investments Limited
Jurisdiction
England and Wales
Judgment Date
21 July 2009
Procedural Posture
Commercial / Post Judgment; Determination of Form of Order, Interest, Costs, and Permission to Appeal
Outcome
Defendants jointly liable for €75.1 million; claimant to pay defendants' costs; interest awarded at 1% above Euribor from judgment date; interim payment ordered; stay of judgment pending appeal; permission to appeal granted to both sides.
Legal Topics
Quantum Meruit, Costs, Interest, Permission to Appeal, Stay of Judgment
Contract Law Restitution Civil Procedure Quantum Meruit Costs Interest Permission to Appeal Stay of Judgment

Case Brief

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Parties

Alessandro Benedetti

Claimant

M Finance SA

Claimant

Naguib Onsi Naguib Sawiris

Defendant

April Holding

Defendant

OS Holding

Defendant

Cylo Investments Limited

Defendant

Procedural Posture

Commercial / Post Judgment; Determination of Form of Order, Interest, Costs, and Permission to Appeal

Legal Issues

  1. 1 Whether defendants' liability for quantum meruit award should be joint or several
  2. 2 Basis and period for award of interest on judgment sum
  3. 3 Appropriate costs order given claimant's partial success

Ratio Decidendi

Defendants are jointly liable for €75.1 million quantum meruit award as all benefited from claimant's services; interest awarded at 1% above Euribor from date of judgment only; claimant to pay defendants' costs due to rejection of October agreement and partial success; permission to appeal granted to both sides; stay of judgment pending appeal subject to bank guarantee.

Court Disposition

Defendants jointly liable for €75.1 million; claimant to pay defendants' costs; interest awarded at 1% above Euribor from judgment date; interim payment ordered; stay of judgment pending appeal; permission to appeal granted to both sides.

Orders

  • Defendants to pay €75.1 million jointly to claimant.
  • Interest at 1% above Euribor from date of judgment.