CL-2022-000367 - [2025] EWHC 2877 (Comm)

It is clear from the documents, and was confirmed by the evidence of CVS’s witnesses, that Mr Bonnier made the Representations prior to CVS entering into the Three Agreements.

During the trial, Mr Bonnier confirmed that he was not involved in active negotiations with either Apple or LVMH representatives concerning imminent investment in Aaqua. Thus, I am satisfied that the Representations were false, and he knew them to be false when he made them.

I am satisfied that Mr Bonnier intended CVS to rely on his representation for the reasons set out above.

I am also satisfied that the Representations in fact induced CVS to enter into the Three Agreements, and then to invest in Aaqua.