BL-2022-000438 - [2025] EWHC 2212 (Ch)

Mr Michael had a power of attorney to act for Mr Kazolides which expressly and clearly included, at paragraph (f), authority to enter a guarantee. Mr Kazolides accepted that he knew that Mr Michael had signed the JVA on his behalf. Mr Michael’s covering email of 29 August 2006 confirmed that he would be signing the JVA as attorney for Mr Kazolides. Mr Michael’s letter to Mr Dunn’s solicitors dated 29 August 2006 explained that he had signed the JVA as Mr Kazolides’ attorney pursuant to the power of attorney and enclosed both the signed JVA and the power of attorney. That letter was copied to Mr Kazolides at an address in Cyprus.

Mr Kazolides accepted in his oral evidence that he would have read the JVA and the JVA clearly included a guarantee. Although, as noted above, the JVA did not define the term “Guarantor” / “Guarantors”, I consider that it would have been obvious to Mr Kazolides that he was giving a guarantee through this clause. Mr Kazolides tried at a later stage in his oral evidence to suggest that he had not read the guarantee clause but I did not find that evidence credible.