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The High Court has handed down judgment in this case, holding the Defendants liable to the Claimant in the amount of £8.7 million for fraudulent activities in pharmaceutical trading.  The Court found the First and Second Defendants to have made fraudulent presentations under a Letter of Credit, found a breach of an implied contractual term that the First Defendant would only present genuine documentation containing truthful statements for the purposes of a good faith presentation under the Letter of Credit, and that the Second Defendant was personally liable as well as his companies.  The Court also held the tort of conspiracy, between the Second Defendant and his companies, and the tort of causing loss by unlawful means to be made out. The case involved detailed consideration of complex factual evidence.

From Blackstone Chambers, Barbara Dohmann QC and Tom Mountford acted for the Claimant, Barclay Pharmaceuticals Limited.

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