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Approved Judgment: 1 October 2025 Transworld v FCIB BL 2020 001543
BL-2020-001543
Before:
MR JUSTICE LEECH
B E T W E E N:
(1) TRANSWORLD PAYMENT SOLUTIONS UK LIMITED
(in liquidation)
(2) STEPHEN JOHN HUNT
(in his capacity as liquidator of Transworld Payment Solutions UK Limited)
Claimants
- and -
(1) FIRST CURAÇAO INTERNATIONAL BANK N.V.
(2) JOHANNES (‘JOHN’) CHRISTIAAN MARTINUS AUGUSTINUS MARIA DEUSS
Defendants
MR CHRISTOPHER PARKER KC, MR CALEY WRIGHT and MR JAMES WOOLRICH (instructed by Gowling WLG (UK) LLP) appeared on behalf of the Claimants.
MR ANDREW SCOTT KC and MR BARNABY LOWE (instructed by Jones Day) appeared on behalf of the First Defendant.
MR BANKIM THANKI KC, MR SAUL LEMER and MR PAUL FRADLEY (instructed by Quinn Emanuel Urquhart & Sullivan UK LLP) appeared on behalf of the Second Defendant
Hearing dates: 24, 27, 28 and 31 March 2025
1, 2, 3, 4, 7, 8, 9, 10, 14 and 15 April 2025
6, 7, 8, 9 and 12 May 2025
Judgment circulated: 1 September 2025
APPROVED JUDGMENT
Table of Contents
I. Introductions [1]
A. The Parties [1]
B. The Claims [10]
C. Settlement [33]
II. The Direct Claims [47]
D. MTIC Fraud [47]
E. The Law .. [57]
F. The VAT Claims [105]
G. Assistance [142]
H. Dishonesty [219]
I. Limitation [508]
III. The Indirect Claims [514]
J. Dishonest Assistance [514]
K. S.213 [575]
L. Limitation [601]
IV. The TWPS Claims [719]
V. The Curacao Judgment [722]
VI. The IPSAs [742]
M. The Terms [742]
N. Forfeiture of Rights [746]
O. Other Curacao law issues [792]
VII. Circuity of Action [793]
VIII. Summary [794]
P. The Direct Claims [794]
Q. The Indirect Claims [798]
R. The TWPS Claims [804]
S. Curacao Law [806]
Mr Justice Leech: