May 16-17 2011
START DATE
END DATE
June 3 2011
John Macmillan Stevenson Patton (as Trustee of the J M S Patton Will Trust) & Stephen P Cook (as Trustee of the J M S Patton Will Trust) v The Bank of Bermuda Limited
COURT:
LAW:
JUDGE(S):
CLAIMANT'S LAWYER:
DEFENDANT'S LAWYER:
The Supreme Court of Bermuda (Commercial Court)
Commercial Law
Kawaley J
Timothy Marshall (Marshall Diel & Myers)
Narinder Hargun (Conyers Dill & Pearman)
FACTS OF THE CASE:
Plaintiffs claim damages for breach of contractual and/or tortious duties by the Bank in selling shares before a dividend was paid resulting in a loss of $176559
SUMMARY:
Whether the Bank breached its duties by selling shares before a dividend payment and whether it was liable for damages
OUTCOMES:
The Bank was not liable for ambiguities in the Plaintiffs? instructions and had no duty to ensure the sale of shares was timed to capture a dividend payment
RULED IN FAVOUR OF:
Defendant
PLAINTIFF/CLAIMANT
DEFENDANT:
DURATION (DAYS):
ISSUES:
RELEVANCE:
RULING:
RULING TYPE:
CASES CITED:
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John Macmillan Stevenson Patton (as Trustee of the J M S Patton Will Trust) & Stephen P Cook (as Trustee of the J M S Patton Will Trust) v The Bank of Bermuda Limited
Plaintiffs claim damages for breach of contractual and/or tortious duties by the Bank in selling shares before a dividend was paid resulting in a loss of $176559