February 19, 2025
HIGH COURT (CHANCERY DIVISION) ENTERS JUDGMENT FOR THE CLAIMANTS FOR OVER £22.7 MILLION
Arfan Khan represented the successful Claimants in Gangat v Jassat throughout the litigation instructed by Pandya Arbitration Global.
The Claimants, former part-owners of the Jumbo Group in South Africa, through third parties transferred substantial funds in millions to Swiss accounts in the 1980s and 1990s allegedly in breach of the South African Exchange Control Regulations to avoid the consequences of the Apartheid. Later, when the Apartheid was over, they regularised their financial affairs with the South African Revenue Service.
The Defendant, a British national, took control of these funds and made investments on the Claimants’ behalf, amassing a significant portfolio of cash and property. Despite holding these assets, the Defendant refused to return them. After over seven years of litigation, the High Court ruled in favour of the Claimants, ordering an account for breach of fiduciary duty.
The Defendant’s appeal against the decision ordering an account was dismissed by the Court of Appeal (Lord Justice Nugee, Lord Justice Stuart Smith, and Lord Justice Warby) on all grounds.
Thereafter, the High Court awarded the Claimants an interim payment in the $millions and recently entered judgment for the Claimants for over £22.7 million including costs.
The reported judgments can be accessed through the following links:
The recent order entering judgment has not been made publicly available.