11/13/2008

START DATE

END DATE

19-Mar-09

Horizon Bank International Ltd. v. Allen Walsh Hans Taal and Boomer Trading Co. Ltd.

COURT:

LAW:

JUDGE(S):

CLAIMANT'S LAWYER:

DEFENDANT'S LAWYER:

The Court of Appeal for Bermuda

Commercial law banking and finance

Hon. Justice Zacca Hon. Justice Nazareth Hon. Justice Evans

Mr. Fenwick Q.C. with Ms. Bell

Mr. Hargun and Mr. Luthi

FACTS OF THE CASE:

Investors entrust assets for offshore investment program bank mismanages and diverts assets resulting in significant losses

SUMMARY:

Authority to conduct transactions breach of fiduciary duty legality of investment scheme

OUTCOMES:

Breach of fiduciary duty confirmed tracing remedy and damages supported

RULED IN FAVOUR OF:

Plaintiff/Claimant

PLAINTIFF/CLAIMANT

DEFENDANT:

DURATION (DAYS):

ISSUES:

RELEVANCE:

RULING:

RULING TYPE:

CASES CITED:

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