In the latest development in the long-running litigation between Vincent Tchenguiz and Grant Thornton concerning the SFO’s investigation into the collapse of Kaupthing Bank and the business affairs of Vincent and Robert Tchenguiz, Mr Justice Knowles has summarily dismissed all of Vincent Tchenguiz’s claims against Grant Thornton.
Following an earlier judgment summarily dismissing claims against another defendant ([2016] EWHC 865 (Comm)), Mr Justice Knowles has ruled that Vincent Tchenguiz’s claims against Grant Thornton have been brought in breach of a Settlement Agreement, which Vincent Tchenguiz and related parties entered into on 17 September 2011. The Judge held, amongst other things, that on its true construction the Settlement Agreement compromised the claims brought by Vincent Tchenguiz and that, contrary to Vincent Tchenguiz’s submissions, the Settlement Agreement did not engage the doctrine of illegality as now formulated by the Supreme Court in Patel v Mirza [2016] 3 WLR 399. The Judge granted permission to appeal.
In his judgment, the Judge also struck out elements of the parallel claim brought by Robert Tchenguiz against Grant Thornton.
James MacDonald acted for Grant Thornton, instructed by Simmons & Simmons LLP.
Please find the Judgment here.