Signia Wealth and the entrepreneur John Caudwell have won their claims against former Chief Executive, Nathalie Dauriac. Signia Wealth and Mr Caudwell claimed declarations that Ms Dauriac had committed acts of gross misconduct in relation to expenses claims and was a bad leaver for the purpose of Signia’s Articles of Association. The Court (Marcus Smith J) concluded that Ms Dauriac was guilty of gross misconduct and that the value of her former shareholding fell to be determined on a bad leaver basis. The Court rejected Ms Dauriac’s valuation of those shares (for which she claimed over £20 million) and valued the shares at c. £500,000. The Court dismissed all of Ms Dauriac’s counterclaims against Mr Caudwell.
Edward Brown, led by Monica Carss-Frisk QC, acted for Signia and Mr Caudwell, instructed by Janet Tobin and Michael Frost of Mishcon de Reya.