Dix and Ors v Sigma Group Limited [2021] JRC 326 (24 December 2021)

Dix and Ors v Sigma Group Limited [2021] JRC 326 (24 December 2021)

Directions were given for the preparation of evidence and fixing of a final hearing to determine quantum of compensation for breach of trust and entitlement to share in the scheme monies. The Defendant is liable to apply the surplus in accordance with the scheme rules, subject to further determination of additional sums and entitlement of the Second Plaintiff. The assessment of compensation will focus on the loss to the trust fund, and the Court will require argument on the appropriate basis for calculation, including interest.

Citation
[2021] JRC 326
Parties
Plaintiff: First Plaintiff; Plaintiff: Second Plaintiff; Plaintiff: Third Plaintiff; Defendant: Sigma Group Limited
Jurisdiction
Jersey
Judgment Date
24 December 2021
Procedural Posture
Civil / Post Judgment Directions and Quantum Assessment
Outcome
Interlocutory directions issued; final determination of quantum and entitlement reserved for further hearing.
Legal Topics
Breach of Trust, Assessment of Quantum, Acquiescence, Concurrence, Distribution of Trust Assets, Equitable Compensation
Trusts Pensions Equity Breach of Trust Assessment of Quantum Acquiescence Concurrence Distribution of Trust Assets +1 more

Case Brief

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Parties

First Plaintiff

Plaintiff

Second Plaintiff

Plaintiff

Third Plaintiff

Plaintiff

Sigma Group Limited

Defendant

Procedural Posture

Civil / Post Judgment Directions and Quantum Assessment

Legal Issues

  1. 1 What additional compensation, if any, is payable by the Defendant for breach of trust?
  2. 2 Who is entitled to share in the scheme monies and in what proportions?
  3. 3 Whether the Second Plaintiff is barred from participation due to acquiescence, concurrence, or delay.

Ratio Decidendi

Directions were given for the preparation of evidence and fixing of a final hearing to determine quantum of compensation for breach of trust and entitlement to share in the scheme monies. The Defendant is liable to apply the surplus in accordance with the scheme rules, subject to further determination of additional sums and entitlement of the Second Plaintiff. The assessment of compensation will focus on the loss to the trust fund, and the Court will require argument on the appropriate basis for calculation, including interest.

Court Disposition

Interlocutory directions issued; final determination of quantum and entitlement reserved for further hearing.

Orders

  • Transcript of Second Plaintiff's evidence to be prepared and costs reserved.
  • Parties to fix date for final hearing with time estimate of one day.