Source: All England Reporter
Publisher Citation: [2009] All ER (D) 224 (Jan)
Neutral Citation: [2009] EWHC 50 (Ch)
Court: Chancery Division

Proudman J

Representation Jonathan Russen (instructed by Howard Kennedy) for the claimant.
  Aidan Casey (instructed by Ingram Winter Green) for the defendant.
  Joanna Smith (instructed by Robin Smith LLP) for the Pt 20 defendant.
Judgment Dates: 21 January 2009


Covenant - Deed - Deed of covenant - Construction - Parties entering into deed of covenant in respect of shares in a company - Claimant subsequently entering into deed of surrender giving up his entitlement under deed of covenant - Shares in company subsequently sold to third party - Claimant claiming deed of covenant imposing trust over or fiduciary duty in relation to shares in his favour - Claimant further claiming fraudulent misrepresentation on part of defendant inducing him to enter deed of surrender - Whether trust imposed over shares - Whether fiduciary duty existing in relation to shares - Whether case for fraudulent misrepresentations made out.

The Case

Covenant Deed. Chancery Division: The claimant's action against the defendant in respect of his rights pursuant to a deed of covenant entered into by the parties was dismissed, the court taking the view that the deed of covenant took effect in the manner postulated by the defendant and that the claimant had failed on the construction issues.

Practice Areas

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