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July 8, 2016
£11 million Ferrari dispute resolved

£11 million Ferrari dispute resolved

Simon Sinnatt and David Lewis-Hall represented a car collector in dispute over £11million 1954 classic Ferrari.

Simon and David were instructed to represent renowned car collector Mr Christopher Gardner at the 3 week trial in the Commercial Court set to start on the 18th April 2016.  The case concerned the purchase of a 1954 Ferrari 375 Plus by American billionaire Mr Les Wexner at an auction held by Bonhams at the June 2014 Goodwood Festival of Speed. The car is one of only four of its type which remain in existence.

The car was previously owned by Mr Karl Kleve, an Ohio car collector, but the chassis was stolen from him in 1989 and found its way to Belgium. Mr Jacques Swaters bought the chassis in 1990 and restored the car to its former glory.  A title dispute arose between Mr Kleve and Mr Swaters, which was continued by their respective heirs.  Mr Gardner subsequently became involved in the dispute.

The car found its way to the Bonhams auction as a result of a purported settlement agreement between the parties fighting over ownership of the car.  Mr Wexner sought to rescind his contracts with Bonhams and the sellers, alleging that he had been misled.

A number of different claims were issued and joined together, resulting in proceedings involving 8 parties and a trial bundle running to over 60 lever arch files, to determine the fate of the car and destination of the proceeds of sale.

Simon and David were instructed as Public Access Barristers representing Mr Gardner in the negotiations between the parties who were represented by leading firms of solicitors Jones Day and Mischon de Reya and magic circle Chambers Brick Court and Blackstone.  Settlement of all claims was achieved.

Read news article here.