£4,000,000 + judgment and worldwide freezer for Ely Place team
Nicholas Stewart QC and Amy Stroud have succeeded in obtaining a £4,000,000 + High Court judgment and a worldwide post-judgment freezing order against former Watford FC owner Laurence Bassini. The judgment was for repayment of loans made to Bassini by Nicholas’s and Amy’s clients Mr Giacomo Russo and his brother Mr Vincent Russo. The Russo brothers had lent Bassini a total of £4.6m through their company Valley Grown Salads. In March 2013 Mr Justice Mackay gave judgment for one loan of £959,500 despite Bassini’s contention that the loan had not been to him personally but to the football club. The judgment awarded by Mr Justice Spencer on Tuesday 25 March 2014 after a 4 day Queen’s Bench trial was for a further £4.2 million including interest. He rejected Bassini’s defence that two sums of £3.5m and £135,000 had not been loans at all but had been paid to buy shares in Watford FC. The judge also refused permission to appeal and granted a world-wide freezing order against Bassini for £4.5m.
See Watford Observer report here