Byers & Anor (Joint Official Liquidators Saad Investments Co Ltd) v Samba Financial Group

Byers & Anor (Joint Official Liquidators Saad Investments Co Ltd) v Samba Financial Group

The court rejected the application to amend because there was no proper legal foundation for selecting 31 January 2020 as the valuation date, the claimants had not pleaded facts justifying such a date, and the amendment would cause prejudice at a late stage in the proceedings.

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
Civil / Pre Trial Review; Application to Amend Particulars of Claim
Outcome
application dismissed
Legal Topics
Constructive Trust, Equitable Compensation, Valuation Date, Amendment of Pleadings
Equity Trusts Constructive Trust Equitable Compensation Valuation Date Amendment of Pleadings

Case Brief

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Parties

Mark Byers

Claimant

Hugh Dickson

Claimant

Saad Investments Company Limited (in liquidation)

Claimant

Samba Financial Group

Defendant

Procedural Posture

Civil / Pre Trial Review; Application to Amend Particulars of Claim

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)
  2. 2 Whether the court has discretion to select an earlier valuation date for equitable compensation

Ratio Decidendi

The court rejected the application to amend because there was no proper legal foundation for selecting 31 January 2020 as the valuation date, the claimants had not pleaded facts justifying such a date, and the amendment would cause prejudice at a late stage in the proceedings.

Court Disposition

application dismissed

Orders

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