James Gleeson (assisted by Thomas Giles) is instructed by the Plaintiff, Rassmal Investments LLC in a claim against former investments partners, Mubarak and Abdullah Al Suwaiket (and the corporate partnership through which they invested) (“ASG”) in relation to their investment in a significant property development at Vauxhall Cross in London. The claim arises from the enforcement of security by the client’s joint venture partner which resulted in the client being removed entirely from the joint venture. The issues raised in the proceedings are complex and novel to Jersey. It is likely that any judgment will make new law in respect of the extent of duties under Article 46 of the Security Interests (Jersey) law 2012, and in nearly all aspects of the remaining claims. The matter went to trial in January and February 2025 and lasted for 4 weeks. Judgment has been reserved.
James is currently acting in another joint-venture dispute, again relating to a London property development, this time for Omani / BVI clients.