Tuesday 28 – Thursday 30 March 2023
In the first appeal, Zaki Mohammed Nuseibeh (3rd Defendant below), appeals the Order of Mr Justice Robin Knowles CBE dated 18 February 2022.
In the second appeal, Benjamin Churchill, Oumar Diallo, IR Relations Ltd and Fatoumata Diallo (1st, 2nd, 4th and 5th Defendants below), appeal the Order of Mr Justice Robin Knowles CBE dated 18 February 2022.
Background: In 2017 Reading Football Club Limited raised finance of US$22,374,000 from Global Fixed Income Fund 1 Limited (“the Fund”). The Defendants were the individuals responsible, on behalf of the Fund, for managing the redemption of a Loan Facility. The Defendants diverted half of the Termination fee for themselves. The Claimant sued the Defendants for its return. The Judge found, as a matter of fact, that the Defendants (i) were not entitled to divert and receive the money; (ii) they knew this; and (iii) they each crossed the line from honesty to dishonesty when doing so.