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.
