Nigel Guenier is taking an old business partner to court because he claims his former associate has failed in his directorial duties and owes their company money.
Luxury Mr Guenier and Southampton-based Gerald Fuller set up a company in Jersey called Northwind Yachts Ltd to distribute luxury yachts built in Spain to the UK.
The venture, which started in 1990, was not a success and ended when the Spanish company ran into difficulties.
It restarted in 1995 and the Jersey-based agency ran until October 1999, when it was terminated by the manufacturer.
Mr Guenier alleges that Mr Fuller committed a number of wrongs, including waiving the purchase price of a yacht to settle a dispute between his own Southampton boatyard and a customer; allowing his own boatyard to sell a £44,210 yacht when it should have been Northwind’s sale; and paying £30,049 for a yacht that the company had not agreed to buy.
The claims were heard by the Royal Court last month, when Mr Guenier applied to bring civil proceedings against Mr Fuller on behalf of Northwind Yachts.
They are denied by Mr Fuller, who alleges that the claims have only been resuscitated because, two years ago, he brought a successful action against Mr Guenier for 50 per cent of a guarantee which one of Mr Fuller’s companies had given to cover Northwind’s bank overdraft.
Representing Mr Guenier, Advocate Adam Clarke argued that his client had to sue Mr Fuller as the company could not recover its claim against him because, as a director and shareholder, Mr Fuller could block such a move.
But Advocate Mark Renouf, for Mr Fuller, said that the court could not allow such an action if there was an ‘adequate alternative remedy’, which, he argued, was liquidation.
The Deputy Bailiff, Michael Birt, sitting with Jurats Georgelin and Le Cornu, agreed.
