Transworld Payment Solutions UK Limited v First Curaçao International Bank N.V. & Anor
| Court | Chancery Division |
| Judgment Date | 01 October 2025 |
| Neutral Citation | [2025] EWHC 2480 (Ch) |
| Date | 01 October 2025 |
| Year | 2025 |
Approved Judgment: 1 October 2025 Transworld v FCIB BL 2020 001543
Neutral Citation Number: [2025] EWHC 2480 (Ch)
BL-2020-001543
IN THE HIGH COURT OF JUSTICE
BUSINESS AND PROPERTY COURTS OF ENGLAND AND WALES
BUSINESS LIST (ChD)
1 October 2025
Before:
MR JUSTICE LEECH
- - - - - - - - - - - - - - - - - - - - -
B E T W E E N:
(1) TRANSWORLD PAYMENT SOLUTIONS UK LIMITED
(in liquidation)
(2) STEPHEN JOHN HUNT
(in his capacity as liquidator of Transworld Payment Solutions UK Limited)
Claimants
- and -
(1) FIRST CURAÇAO INTERNATIONAL BANK N.V.
(2) JOHANNES (‘JOHN’) CHRISTIAAN MARTINUS AUGUSTINUS MARIA DEUSS
Defendants
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
MR CHRISTOPHER PARKER KC, MR CALEY WRIGHT and MR JAMES
WOOLRICH (instructed by Gowling WLG (UK) LLP) appeared on behalf of the Claimants.
MR ANDREW SCOTT KC and MR BARNABY LOWE (instructed by Jones Day)
appeared on behalf of the First Defendant.
MR BANKIM THANKI KC, MR SAUL LEMER and MR PAUL FRADLEY (instructed by
Quinn Emanuel Urquhart & Sullivan UK LLP) appeared on behalf of the Second Defendant
Hearing dates: 24, 27, 28 and 31 March 2025
1, 2, 3, 4, 7, 8, 9, 10, 14 and 15 April 2025
6, 7, 8, 9 and 12 May 2025
Judgment circulated: 1 September 2025
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
APPROVED JUDGMENT
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
Approved Judgment: 1 October 2025 Transworld v FCIB BL 2020 001543
Table of Contents
I. Introductions ..................................................................................................................... [1]
A. The Parties ......................................................................................................................... [1]
B. The Claims ...................................................................................................................... [10]
C. Settlement ........................................................................................................................ [33]
II. The Direct Claims ......................................................................................................... [47]
D. MTIC Fraud .................................................................................................................... [47]
E. The Law .. ........................................................................................................................ [57]
F. The VAT Claims............................................................................................................ [105]
G. Assistance ...................................................................................................................... [142]
H. Dishonesty ..................................................................................................................... [219]
I. Limitation ....................................................................................................................... [508]
III. The Indirect Claims .................................................................................................. [514]
J. Dishonest Assistance ...................................................................................................... [514]
K. S.213 ............................................................................................................................. [575]
L. Limitation ...................................................................................................................... [601]
IV. The TWPS Claims ..................................................................................................... [719]
V. The Curacao Judgment .............................................................................................. [722]
VI. The IPSAs ................................................................................................................... [742]
M. The Terms..................................................................................................................... [742]
N. Forfeiture of Rights ....................................................................................................... [746]
O. Other Curacao law issues .............................................................................................. [792]
VII. Circuity of Action ..................................................................................................... [793]
VIII. Summary ................................................................................................................. [794]
P. The Direct Claims .......................................................................................................... [794]
Q. The Indirect Claims ........................................................................................................ [798]
Approved Judgment: 1 October 2025 Transworld v FCIB BL 2020 001543
R. The TWPS Claims .......................................................................................................... [804]
S. Curacao Law .................................................................................................................. [806]
Get this document and AI-powered insights with a free trial of vLex and Vincent AI
Get Started for FreeStart Your Free Trial of vLex and Vincent AI, Your Precision-Engineered Legal Assistant
-
Access comprehensive legal content with no limitations across vLex's unparalleled global legal database
-
Build stronger arguments with verified citations and CERT citator that tracks case history and precedential strength
-
Transform your legal research from hours to minutes with Vincent AI's intelligent search and analysis capabilities
-
Elevate your practice by focusing your expertise where it matters most while Vincent handles the heavy lifting
Start Your Free Trial of vLex and Vincent AI, Your Precision-Engineered Legal Assistant
-
Access comprehensive legal content with no limitations across vLex's unparalleled global legal database
-
Build stronger arguments with verified citations and CERT citator that tracks case history and precedential strength
-
Transform your legal research from hours to minutes with Vincent AI's intelligent search and analysis capabilities
-
Elevate your practice by focusing your expertise where it matters most while Vincent handles the heavy lifting
Start Your Free Trial of vLex and Vincent AI, Your Precision-Engineered Legal Assistant
-
Access comprehensive legal content with no limitations across vLex's unparalleled global legal database
-
Build stronger arguments with verified citations and CERT citator that tracks case history and precedential strength
-
Transform your legal research from hours to minutes with Vincent AI's intelligent search and analysis capabilities
-
Elevate your practice by focusing your expertise where it matters most while Vincent handles the heavy lifting
Start Your Free Trial of vLex and Vincent AI, Your Precision-Engineered Legal Assistant
-
Access comprehensive legal content with no limitations across vLex's unparalleled global legal database
-
Build stronger arguments with verified citations and CERT citator that tracks case history and precedential strength
-
Transform your legal research from hours to minutes with Vincent AI's intelligent search and analysis capabilities
-
Elevate your practice by focusing your expertise where it matters most while Vincent handles the heavy lifting
Start Your Free Trial of vLex and Vincent AI, Your Precision-Engineered Legal Assistant
-
Access comprehensive legal content with no limitations across vLex's unparalleled global legal database
-
Build stronger arguments with verified citations and CERT citator that tracks case history and precedential strength
-
Transform your legal research from hours to minutes with Vincent AI's intelligent search and analysis capabilities
-
Elevate your practice by focusing your expertise where it matters most while Vincent handles the heavy lifting
