ERIC JOHN WATSONV
KEA INVESTMENTS LIMITED
In 2012, the claimant trustee (K) invested £129m into a joint venture (Spartan), which was alleged have been procured by the deceit of Mr Watson. The action between K and Spartan was settled, with certain agreements between Spartan and K set aside. As a result, K was entitled to treat Spartan as constructive trustee of £129m, which also gave rise to a right to interest under the equitable jurisdiction of the Court, or s35A Senior Courts Act 1981. K continued its claim against Mr Watson, who was found liable to pay equitable compensation to K of all sums which were due from Spartan, but which Spartan proved unable to pay.
Joseph Dalby (SC, Republic of Ireland) (The 36 Group, 4 Field Court, Gray’s Inn, London WC1R 5EF, tel 0207 421 8000) and Simon Harding (The 36 Group, 4 Field Court, Gray’s Inn, London WC1R 5EF, tel 0207 421 8000) instructed by Direct Access for the appellant.
Elizabeth Jones QC (Serle Court, 6 New Square, Lincoln’s Inn, London WC2A 3QS, tel 0207 242 6105, email email@example.com) and Paul Adams (Serle Court, 6 New Square, Lincoln’s Inn, London WC2A 3QS, tel 0207 242 6105, email firstname.lastname@example.org) instructed by Farrer & Co LLP (66 Lincoln’s Inn Fields, London WC2A 3LH, tel 0203 375 7000, email email@example.com) for the respondent.