The High Court has ordered Nottingham Forest Football Club to pay its former owner, Mr Fawaz Al-Hasawi, a total of £4,704,825 plus costs in relation to the 2016 sale of the Club. It was a term of the sale that the buyer (now owner) procure that the Club repay certain loans which Mr Al-Hasawi had made to the Club.
The Club and its current owner counterclaimed for alleged breach of a Share Purchase Agreement in an effort to avoid repayment. It raised issues of contractual construction, reliance, causation, statutory misrepresentation and estoppel. Mr Al-Hasawi was successful. As a result, the Court held that he was entitled to the full sum due to him under the relevant contract plus contractual compound interest.
Tom Hickman QC represented Mr Al-Hasawi