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England and Wales High Court (Commercial Court) Decisions |
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You are here: BAILII >> Databases >> England and Wales High Court (Commercial Court) Decisions >> Fiona Trust & Holding Corporation v Privalov [2016] EWHC 2451 (Comm) (07 October 2016) URL: https://www.bailii.org/ew/cases/EWHC/Comm/2016/2451.html Cite as: [2016] EWHC 2451 (Comm) |
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Case No: CL-2016-000110 |
QUEEN'S BENCH DIVISION
COMMERCIAL COURT
Strand, London, WC2A 2LL |
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B e f o r e :
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FIONA TRUST & HOLDING CORPORATION |
Claimants |
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- and - |
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YURI PRIVALOV |
Defendants |
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Mr Steven Berry QC, Mr Nathan Pillow QC & Mr Adam Board (instructed by Lax & Co LLP) for the Defendant
Written submissions
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Crown Copyright ©
Mr Justice Males :
The notional resale proceeds
Agreed purchase cost US $556.82 million Plus profit as per judgment US $ 94.36 million Less proceeds used to fund purchases US $ 99.02 million
The rate of return on funds at Wegelin
The defendants' damages
Profit on newbuildings US $94.36 million Plus investment return (5% of US $552.16 million) US $27.61 million Less in fact earned US $33.50 million Less return not earned on Wegelin funds US $28.67 million
Interest