Derby & Co., Ltd. v. Weldon (No. 1)
England and Wales Court of Appeal
[1989] E.C.C. 283 (1988)
- Written by Steven Pacht, JD
Facts
Derby & Company, Ltd. and others (collectively, Derby) (plaintiffs) owned certain companies that Anthony Weldon and others (collectively, Weldon) (defendants) managed. Derby sued Weldon under various theories, including fraudulent breach of fiduciary duty. Because Weldon’s assets were located in several countries, Derby requested a prejudgment Mareva injunction, i.e., an injunction freezing Weldon’s assets around the world. Ruling that there was evidence that Weldon acted dishonestly and had the ability to move assets to inaccessible overseas companies, the trial court issued a Mareva injunction but limited the injunction to the United Kingdom because a worldwide injunction could severely prejudice respondents who, while preparing for a complex trial in England, also would have to expend substantial resources to litigate the application of an asset-freeze injunction in numerous other countries. Additionally, the trial court observed that Weldon had not been—and might never be—adjudged to have acted dishonestly. Both sides appealed.
Rule of Law
Issue
Holding and Reasoning (May, J.)
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