Levack & Anor v Philip Ross & Co (a firm) & Anor

Levack & Anor v Philip Ross & Co (a firm) & Anor

Philip Ross held the Deposit and Completion Monies on trust for the joint and equal benefit of the Claimants and Mr Moeller/KGL, and breached trust by paying out the monies without protecting the Claimants' interests; there is no realistic prospect of successfully defending the claim, and equitable compensation is appropriate.

Parties
Claimant: Mr Paul Allen Levack; Claimant: APL Management Limited; Defendant: Philip Ross & Co; Defendant: Mr John Bengt Moeller; Defendant: DDL 178 Limited
Jurisdiction
England and Wales
Judgment Date
29 March 2019
Procedural Posture
Commercial Court Claim / Summary Judgment Application
Outcome
Summary judgment granted for Claimants against Philip Ross & Co for breach of trust.
Legal Topics
Breach of Trust, Equitable Compensation, Summary Judgment, Quistclose Trusts, Solicitor's Duties
Trusts Equity Commercial Law Breach of Trust Equitable Compensation Summary Judgment Quistclose Trusts Solicitor's Duties

Case Brief

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Parties

Mr Paul Allen Levack

Claimant

APL Management Limited

Claimant

Philip Ross & Co

Defendant

Mr John Bengt Moeller

Defendant

DDL 178 Limited

Defendant

Procedural Posture

Commercial Court Claim / Summary Judgment Application

Legal Issues

  1. 1 Nature and terms of the trusts over monies paid to solicitor
  2. 2 Whether monies were paid out in breach of trust
  3. 3 Entitlement to equitable compensation

Ratio Decidendi

Philip Ross held the Deposit and Completion Monies on trust for the joint and equal benefit of the Claimants and Mr Moeller/KGL, and breached trust by paying out the monies without protecting the Claimants' interests; there is no realistic prospect of successfully defending the claim, and equitable compensation is appropriate.

Court Disposition

Summary judgment granted for Claimants against Philip Ross & Co for breach of trust.

Orders

  • Declaratory relief in favour of both Claimants
  • Monetary judgment in favour of APL Management Limited for £5,171,705