Byers & Anor (Joint Official Liquidators Saad Investments Co Ltd) v Samba Financial Group [2020] EWHC 2380 (Ch) (23 July 2020)

Byers & Anor (Joint Official Liquidators Saad Investments Co Ltd) v Samba Financial Group [2020] EWHC 2380 (Ch) (23 July 2020)

The application to amend was refused because there is no proper legal foundation for selecting 31 January 2020 as a valuation date in the absence of pleaded facts justifying it, and the amendment would cause prejudice and disruption at a late stage of proceedings.

Source-derived case information.

Citation
[2020] EWHC 2380 (Ch)
Parties
Claimant: Mark Byers; Claimant: Hugh Dickson; Claimant: Saad Investments Company Limited (in liquidation); Defendant: Samba Financial Group
Jurisdiction
England and Wales
Judgment Date
23 July 2020
Procedural Posture
Application to Amend Particulars of Claim in Ongoing Chancery Division Proceedings / Pre Trial Review
Outcome
Application refused
Legal Topics
Constructive Trust, Equitable Compensation, Valuation Date, Amendment of Pleadings
Equity Trusts Civil Procedure Constructive Trust Equitable Compensation Valuation Date Amendment of Pleadings

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Parties

Mark Byers

Claimant

Hugh Dickson

Claimant

Saad Investments Company Limited (in liquidation)

Claimant

Samba Financial Group

Defendant

Procedural Posture

Application to Amend Particulars of Claim in Ongoing Chancery Division Proceedings / Pre Trial Review

Legal Issues

  1. 1 Whether the claimants should be permitted to amend the particulars of claim to include an alternative valuation date for trust property (31 January 2020)

Ratio Decidendi

The application to amend was refused because there is no proper legal foundation for selecting 31 January 2020 as a valuation date in the absence of pleaded facts justifying it, and the amendment would cause prejudice and disruption at a late stage of proceedings.

Court Disposition

Application refused

Orders

  • Permission to amend particulars of claim to include 31 January 2020 as an alternative valuation date is refused.