Buyer's unjust enrichment claim for undelivered assets failed

The Court of Appeal has held that a buyer was unable to recover the consideration allocated to certain assets under a sale agreement despite those assets not being transferred by the seller.

The facts

Dargamo Holdings Ltd v Avonwick Holdings Ltd [2021] EWCA Civ 1149 arose out of a bitter dispute between three wealthy Ukrainians over the division of their business interests.

The key relevant facts were that under a share purchase agreement a seller agreed to sell certain shares to two buyers. The consideration for those shares set out in the agreement was $950,000,000.