Breach of trust, Freezing Injunctions

The one where money paid on account but not used for what was intended

Service Type

Breach of trust
Freezing Injunctions

Client Type

company

Sector

manufacturing and engineering

Case Value

£100k - £1m

Advised an individual in relation to payment of money on account to a third-party agent to purchase precious metal products for him.  The agent company thereafter used those monies held for their own purchase in breach of what is known as a “quistclose trust”.  

The client successfully secured a freezing injunction in excess of £150,000 against the agent company and its director (thereby piercing the corporate veil), which led to successful proceedings and recovery of the judgment sum together with costs.

fraud-advisery-panel-member
Tenet Compliance & Litigation Limited. Registered Office, 10th Floor, Lyndon House, 62 Hagley Road, Birmingham, B16 8PE. Registered in England and Wales. Registered No: 09776405. Authorised and regulated by the Solicitors Regulation Authority. SRA Identification No. 626562.
Copyright © Tenet Law. All Rights Reserved.
Created by Gritt & Co