![BL-2020-001417 - [2025] EWHC 2487 (Ch)](https://backend.juristeca.com/files/emisores/logo_O3rEzCI.png){kind=logo}
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Neutral Citation Number: [2025] EWHC 2487 (Ch)
Case No: BL-2020-001417
IN THE HIGH COURT OF JUSTICE
CHANCERY DIVISION
BUSINESS AND PROPERTY COURTS OF ENGLAND AND WALES
BUSINESS LIST (Ch D)
Royal Courts of Justice, Rolls Building
Fetter Lane, London, EC4A 1NL
Date: 01/10/2025
Before :
MR JUSTICE FREEDMAN
Between :
MATRIX RECEIVABLES LIMITED | Claimant |
- and – | |
MUSST HOLDINGS LIMITED | Defendant |
Mr Jonathan Adkin KC (instructed by Mills & Reeve LLP) for the Claimant
Mr Peter Knox KC and Ms Katharine Bailey (instructed by Taylor Wessing LLP) for the Defendant
Hearing dates: 6-9 May 2025, 12 May 2025 and 15-16 May 2025
Judgment handed down in draft: 28 August 2025
Approved Judgment
This judgment was handed down remotely at 12noon on 1 October 2025 by circulation to the parties or their representatives by e-mail and by release to the National Archives.
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- MR JUSTICE FREEDMAN
- II Background to the issues
- III The issues
- IV The evidence
- V The facts
- VI The approaches to The Observatory and LGT
- VII Is the unjust enrichment by reference to services or end-product?
- VIII The rate of remuneration: fixed fee or commission?
- IX Limitation: are the claims wholly or in part statute barred?
- X The action to recover commission relating to the management fees in respect of The Observatory/2B and LBT/Crown
- XI The action to recover commission relating to the performance fees in respect
- XII Counter restitution
- XIII Alternative analysis about the value of any benefit received at the expense of Matrix in respect of a share of performance fees
- XIV The wrong party defences
- XV Wrong party first point: the assignment fails because any services were performed by MAAM or a Matrix entity other than MMM
- XVI Wrong party second point: the claim was transferred to LGBR or some other entity so that the assignment of MMM to MRL was ineffective
- Conclusions