4 Oct 2016
FRANZ JOSEF ADICK v. GROSVENOR INTERNATIONAL HOLDINGS LTD
- Citation
- FRANZ JOSEF ADICK v. GROSVENOR INTERNATIONAL HOLDINGS LTD
- Court
- Court of First Instance
- Case number
- HCA1347/2012
The court analysed whether the deposits were recoverable by reference to failure of basis, mistake and trust principles, and considered the contractual structure involving Grosvenor, its BVI vehicle Corragin and intervening sale arrangements; the court found that the factual and contractual matrix was determinative of whether a trust arose or restitution was available and applied Quistclose, restitution and constructive trust principles to those facts.