Commercial Court grants costs order for Withers' clients WRM Group and Raffaele Mincione in declaratory relief proceedings against Secretariat of State of the Holy See

At a consequentials hearing on Friday 2 May, the Commercial Court ordered the Secretariat of State of the Holy See to pay 50% of the costs which total almost £7m, on the standard basis, of Withers' clients Raffaele Mincione, WRM Capital Management and Athena Capital following February's judgment in a dispute over the sale of a real estate project at 60 Sloane Avenue, London.

In February this year, the Hon Mr Justice Knowles CBE gave judgment in a claim brought by financier Raffaele Mincione and various entities within WRM Group against the Secretariat. The claim centred on the acquisition of a landmark property at 60 Sloane Avenue in Chelsea, London. The Hon Mr Justice Knowles CBE granted the Claimants declaratory relief confirming the validity and lawfulness of the 2018 transaction whereby the Secretariat acquired the entirety of the commercial interests in the landmark property at 60 Sloane Avenue in Chelsea, London. The Commercial Court Judgment rejected the Secretariat of State of the Holy See’s allegations of dishonesty, fraud and conspiracy. 

Following the hand down of the judgment in February, at a recent consequentials hearing, the Hon Mr Justice Knowles CBE once again gave judgment for the Claimants, ordering the Secretariat to pay 50% of the Claimants' costs. An interim payment of £1.5m is due within 28 days with the balance payable by the Secretariat after detailed assessment (if not agreed). This costs order in favour of the Claimants follows from an earlier favourable order by the Court of Appeal whereby the Secretariat was ordered to pay a substantial amount in respect of the Claimants' costs of appeal against the stay of the proceedings and the Claimants' costs of the Secretariat's failed jurisdiction challenge.

The proceedings were groundbreaking in that they constituted the first time that the Holy See has been sued in the Courts of England and Wales.  

Withers partner, and CEO of its Dispute Resolution Division, Peter Wood, commented: "We are delighted to see the court follow up on the excellent outcome in this landmark trial with a costs order that provides further vindication of our clients' position."

The Withers team was led by Peter together with special counsel Caroline Thompson, senior associate Julia Filippova, associate Chloe Flascher and paralegal Alessia Moruzzi. The Withers team instructed Charles Samek KC (Littleton Chambers), Tetyana Nesterchuk (Fountain Court) and Blathnaid Breslin (Littleton Chambers).

This piece was co-authored by Rebecca Willis, a trainee solicitor at the time of writing.