QFC 0055/2023, [2024] QIC (E) 1
Stephen Ferris v Sanguine Investment Managers LLC and Christopher John Leach
The original dispute had involved a debt which had not been paid and a subsequent settlement agreement was breached. Payment orders were made but not paid. The case involved contempt of court for failure to act on the orders, the provision of purposefully false information when asked to disclose details of assets and false information about an intention to pay.
Background
On 26 May 2023, the Applicant applied for declarations of contempt, sanctions, and allied relief against the Respondents. This case had an unhappy and lengthy history. The Applicant and Respondents were in a financial dispute. They concluded that substantive dispute by way of a settlement agreement dated 24 June 2022 . The Settlement Agreement required the payment of sums from the Respondents to the Applicant in instalments on or before 31 August 2022, 31 October 2022, and 30 November 2022. None of those instalments were met and no payment had been made to the Applicant.
The Applicant applied to the First Instance Circuit to enforce the Settlement Agreement which resulted in an order giving judgment for $300,000 on 27 September 2022 with interest and costs.