MISICK & STANBROOK SUCCESSFULLY DEFEND UNJUST ENRICHMENT CASE FOR AKITA HOLDINGS LTD

In proceedings brought by the Attorney General of the TCI, Ariel Misick Q.C. appeared for Akita Holdings Ltd in front of Justice Margaret Ramsay-Hale in the Supreme Court.

The Attorney General claimed that the company was unjustly enriched by benefits it received through a transfer of Crown land obtained at an undervalue or that it was otherwise in knowing receipt of the land which was transferred in breach of fiduciary duty. Akita Holdings Ltd defended the claim and it was argued that the there was no knowledge, in the circumstances, that the land was worth more than it had been offered to the company for by the Crown at the time or that Akita Holdings was unjustly enriched.

The Judge ruled in favour of Akita Holdings Ltd and dismissed the claim.