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ARTICLE · 01 AUGUST 2024

The Intermeddling Sheikh

Child & Child
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The Court of Appeal upheld Sheikh Mohamed Bin Issa Al Jaber's liability for intermeddling in a company under liquidation but reversed the €67M judgment due to insufficient proof from liquidators on the timely disposal of shares.

United KingdomCorporate/Commercial Law
Laurence Crees
Laurence Crees

A Court of Appeal has unanimously upheld liability against Sheikh Mohamed Bin Issa Al Jaber for transferring shares from a company, MBI International & Partners Inc (the "Company"), while it was in liquidation.

But there's a twist – the judgment amount of €67,123,403.36 was reversed because the claimant liquidators failed to show that they would have disposed of the shares prior to their loss of value. Disputes Resolution associate Laurence Crees explains the significance of the ruling.

The judgment indicates when the Court will impose personal liability on someone that "intermeddles" with the affairs of a trust or company. It also provides a salutary reminder for liquidators to realise assets swiftly, even in cases involving misinformation.

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