<
p>A Stamford Bridge legend has defeated a major UK property developer in a landmark property investment court case.
Dennis Wise, once a household name amongst Chelsea fans, has won a claim for a return of £500,000 from Charlton co-owner and UK property tycoon, Tony Jiminez.
Wise had given Jiminez £500,000 to invest in the development of a golf course in France, dubbed “Europe’s Augusta”.
Wise and his crack team of lawyers claimed that the “agreed purpose” of the investment was not fulfilled and is entitled to have his money back.
Jimenez widely disputed Wise's claim, announcing that the money was invested in the golf course development in Les Bordes as agreed, in the form of equity.
However, Judge Penelope Reed QC ruled in Wise's favour, after a High Court hearing in London, and demanded Jimenez to pay compensation.
The two, who were once close friends, used to work together at Newcastle United – where Wise was Director of Football and Jimenez Vice President.
Speaking on the judgement, Penelope Reed QC, said : “I consider that Mr Jimenez received the sum of £500,000 from Mr Wise for a specific purpose and he has not satisfied me on a balance of probabilities that he has fulfilled that purpose.
“In those circumstances he held that £500,000 on trust for Mr Wise. As he no longer holds those monies he is liable to pay equitable compensation to Mr Wise in the sum of £500,000 together with interest from December 4 2007.”
Also commenting on his victory, Wise said: “I would like to thank the judge for her decision and my legal team for all their hard work.
“This award simply confirms the truth which I told in court namely that I gave Tony £500,000 because I trusted him and believed he was investing it for me.
“It is very sad that I have had to sue him to get my money back. ‘It is particularly upsetting that Tony, who was a very close friend to me and my family, has accused me of lying just to avoid paying what he owed.”
It has been reported by the Daily Mail, that Jiminez will appeal against the ruling – stating: “I am extremely disappointed with the judgement handed down today and given the evidence find it difficult to comprehend how the judge came to such a conclusion.
“Disappointment and bewilderment is heightened given that the judge has branded certain of Mr Wise's behaviour as 'reprehensible'. I'm consulting with my legal team and my intention is to appeal the decision.”
Wise has been awarded costs likely to total £230,000, while the court refused Jimenez, who was absent, permission to appeal and also denied him extra time to pay the ex-footballer his money back.
As a result of the judgement, within 14 days, Jimenez must pay Mr Wise £500,000 plus £81,000 in interest and £100,000 in costs.
A Stamford Bridge legend has defeated a major UK property developer in a landmark property investment court case.
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