The claimants had been advised to invest in a scheme promoted by the defendants with the assistance of their solicitors. On the failure of the scheme they now sought relief alleging inter alia, breach of trust.
Held: The claims failed. In connection with the negative day-to-day control test under section 235(2), it was necessary to look beyond the scheme documentation to the facts relating to ‘how the scheme was designed to and did operate in practice’.
Judges:
Hamblen J
Citations:
[2012] EWHC 1321 (Comm)
Links:
Statutes:
Financial Services and Markets Act 2000 235
Jurisdiction:
England and Wales
Citing:
See Also – Brown and Others v InnovatorOne Plc and Others ComC 19-Jun-2009
The claimants served proceedings by fax. The defendants denied that it was effective saying that they had not confirmed that they were instructed to accept service or that as required by the rules they had confirmed that they would accept service by . .
See Also – Brown and Others v InnovatorOne Plc and Others ComC 28-Jul-2010
The claimants alleged breach of trust by the defendants in their promotion of an investment scheme which went on to fail. One defendant, a Swiss bank now sought a declaration that the court had no jurisdiction over it.
Held: The defendant’s . .
Cited by:
Appeal from – Brown and Others v Innovatorone Plc and Others CA 4-Dec-2012
The claimants appealed against rejection of their claims of breach of trust against the respndents and their solicitors in the promotion of investment semes which went on to fail. . .
Cited – Asset Land Investment Plc and Another v The Financial Conduct Authority SC 20-Apr-2016
Proceedings were brought against the appellant’s associated parties, alleging that they had carred on regulated activities without authorisation, contrary to section 19 of the2000 Act. They had offered various plots of land for sale, suggesting they . .
Lists of cited by and citing cases may be incomplete.
Trusts, Financial Services
Updated: 31 October 2022; Ref: scu.459810