Energenics & Neuftec v Hazarika [2014] EWHC 1845 (Ch)

William McCormick QC and Aidan Briggs successfully defended Mr Hazarika who faced claims for breach of contract, breach of fiduciary duty, dishonest assistance, knowing receipt and conspiracy arising out of the sale of shares in Neuftec. Although a breach of the contract to transfer the shares was found, the judge found that no loss had flowed from that breach and that as £30,000 had already been paid by a third party in respect of any loss there might have been, not even nominal damages were payable. Although the factual basis of the loss was found not to have been proved, even had those facts been proved the judge held that the claim would still have failed because the loss alleged was sustained by a subsidiary of the Claimant and there was no proper evidence of how any loss would have been felt in the parent. The other causes of action were based upon the allegation that the Defendant had been a de facto director and had/or dishonestly allowed another de facto director to make payments without formal authority. The judge dismissed all those allegations.

William McCormick & Aidan Briggs were instructed by Adam Tudor of Carter-Ruck