Parallel Media LLC v Chamberlain & Anor
2014
QUEEN’S BENCH DIVISION
United Kingdom
CORAM
- HIS HONOUR JUDGE RICHARD SEYMOUR Q.C.
Areas of Law
- Contract Law
- Civil Procedure
- Tort Law
2014
QUEEN’S BENCH DIVISION
United Kingdom
CORAM
AI Generated Summary
Parallel Media LLC (Media) sued Mr. and Mrs. Chamberlain to recover $3 million based on alleged fraudulent misrepresentation and breach of contract concerning their investment in Parallel Pictures Ltd. (Pictures). The court found that Media failed to prove the supposed misrepresentations but awarded nominal damages of £2 for a breach of warranty in the Share Sale Agreement.
Judgment
His Honour Judge Richard Seymour Q.C. :
Introduction
The claimant in this action, Parallel Media LLC ( “Media” ), was registered in the State of Nevada in the United States of America on 21 September 2006. It seems to have been brought into existence to serve as the vehicle for the purchase of a number of shares in a company incorporated in England and Wales called Parallel Pictures Ltd. ( “Pictures” ). Pictures, the company number of which was 3048616, was originally incorporated under the name Hudsonridge Ltd. on 21 April 1995. It appears that it changed its name in about September 1997 and altered its Memorandum of Association so as to permit it, so far as is presently material, to carry on business as a film production company. Pictures was the successor to an earlier company which seems to have been incorporated in about 1990, but that circumstance was not material to any issue in this action. By October 2006 the shareholders in Pictures included the first defendant, Mr. William Chamberlain, and the second defendant, his wife, Mrs. Marilyn Chamberlain.
Those behind Media were Mr. Raymond Markovich, who is an attorney and a member of the Bars of the United States Supreme Court, the Federal District Court for the Southern District of New York, the Federal District Court for the Northern District of New York, the Federal District Court for the Eastern District of New York, and the State of New York, as well as a New York licensed real estate broker and having accountancy qualifications, and Ms Olga Mirimskaya, who is a Russian businesswoman with interests in the banking and food industries in Russia. Despite his legal qualifications and his qualifications as an estate agent, Mr. Markovich had in fact spent many years – from 1993 to 2009 – residing in Russia, and had developed interests in cinema businesses in Russia. Ms Mirimskaya, as I understand it, was, in 2006, interested in becoming involved in the film industry.
It appears that Mr. Chamberlain was, in 2006, seeking finance to enable Pictures to produce a film called “Alpha Numeric” . With that end in view he travelled to Russia and made contact with Mr. Markovich and Ms Mirimskaya. Mr. Chamberlain and Mr. Markovich had met previously, the first time in 2001. Ms Mirimskaya had a son, Arkady, who was interested in developing a career as an actor. As a result of discussions between Mr. Chamberlain, Mr. Markovich and Ms Mirimskaya the question of Mr. Markovich and Ms Mirimskaya acquiring