Tuesday 9th July 2019
This is an appeal in respect to the order of HHJ Stephen Davies, sitting as a Deputy High Court Judge, dated 18 June 2018, whereby he gave judgment for the First Respondent in the sum of £659,612.04 upon the overpayment claim.
The appellant previously owned and controlled the company, `Keystone’, which was a healthcare employment agency, along with two others. Keystone claimed that the appellant had committed various financial frauds, breached fiduciary duties, misused confidential information and acted in breach of restrictive covenants. The `Overpayment claim’ related to a sum of money the other owners of Keystone had been persuaded to pay to the First Defendant to acquire his shareholding in Keystone. They argued that, had they known of his misconduct in relation to Keystone, they would have been entitled to compulsorily acquire his shareholding for its true value less a 50% discount.
Read the full lower court Judgment.