Fraudulent Non-Disclosure Claim in Property Joint Venture Case Fails – Littleton Chambers
‘The claimant (Mr Russell) was one of four individuals involved in a joint venture property development business. The parties entered into a joint venture agreement which obliged them to act with good faith towards each other, in certain limited respects. Mr Russell departed the business pursuant to the terms of a settlement deed. Shortly after that deed was executed, the remaining parties entered into an attractive development project that Mr Russell claimed the other parties did not tell him about, or give him the opportunity to participate in. Mr Russell claimed he was wrongfully excluded by the dishonest actions of the other joint venturers. The claims alleged were: (a) breach of fiduciary duty; (b) breach of the express/implied terms of the joint venture agreement; (c) fraudulent non-disclosure; (d) unlawful means conspiracy. As a result of the terms of the settlement deed, Mr Russell needed to establish fraud or dishonesty to succeed.’
Littleton Chambers, 13th February 2020
Source: www.littletonchambers.com
