In its judgment handed down this morning, 17 July 2013, the Supreme Court unanimously dismissed the appeal by Mr Benedetti against the decision of the Court of Appeal and, at the same time, allowed Mr Sawiris’ cross appeal against the Court of Appeal decision.
This brings to an end the long running litigation between Mr Benedetti and Mr Sawiris, in which Mr Benedetti had claimed in excess of US$3.2 billion against Mr Sawiris. As a result of the unanimous decision of the Supreme Court, it has now been finally determined that Mr Benedetti is entitled to no payment whatever from Mr Sawiris.
The Supreme Court decision provides authoritative guidance as to the proper assessment of claims for a quantum meruit, unanimously concluding that the value of such claims is always to be objectively assessed, and that the parties’ views as to the value of services provided, when inconsistent with the objective value of those services, is irrelevant. The Supreme Court speeches also provide important analysis in relation to a number of other aspects of the law of unjust enrichment, including whether English law recognises the principle of ‘subjective devaluation’ when seeking to identify the value of the benefit which it is said causes a defendant to have been ‘unjustly enriched’.
Laurence Rabinowitz QC has represented Mr Sawiris throughout the litigation. He was instructed by Kirkland & Ellis International LLP.
The full text of the Judgment is available here