Littleton Chambers is pleased to announce that Jonathan Cohen KC and Ashley Cukier, instructed by Edmonds Marshall McMahon, have successfully secured Summary Judgment for fraudulent misrepresentation against investment influencer and podcaster Matt Haycox.
The claim was brought by Scott Fletcher and Lowry Trading Limited, who were induced by Mr Haycox to invest £4.5 million into what was falsely represented as a completed property finance transaction.
In 2021, Mr Haycox met investor Mr Fletcher and introduced him to investment opportunities purportedly available through the “Huddle Group” of companies, in which individual investments would be held by special purpose vehicles (“SPVs”) on trust for investors.
In late 2022, Mr Haycox presented an investment opportunity involving a £4.5 million short-term loan to two hoteliers seeking to redevelop a historic East Sussex property into a luxury hotel. The investment was to be made via “SPV 20” within the Huddle Group.
On 17 November 2022, Mr Haycox emailed Mr Fletcher confirming that the “legals” for the transaction were complete and attaching executed loan documentation — including a facilities agreement and legal charge — which, on their face, appeared valid. Relying on those representations, Mr Fletcher transferred £4.5 million to the bank account provided by Mr Haycox for SPV 20 on 1 December 2022.
In reality, the loan had not completed, and Mr Haycox was fully aware of that fact. Thereafter, despite knowing that the deal had fallen through, he continued to provide updates to Mr Fletcher between December 2022 and January 2024, falsely reporting on loan performance, repayments, and interest — updates which the Court found were themselves fraudulent misrepresentations designed to perpetuate the deception.
In granting Summary Judgment for fraudulent misrepresentation, His Honour Judge Pearce, sitting as a Judge of the High Court at the Manchester Circuit Commercial Court, found that Mr Haycox:
The Judge rejected Mr Haycox’s suggestion that his false statements were mere “white lies” or “strategic misstatements” to “manage” investor relations, observing that “a lie is no less a lie if a person was angry when told the truth.”
Having considered all of Mr Haycox’s arguments, the Court concluded that he had no real prospect of defending the claim, and there was no other compelling reason for a trial. Summary Judgment was therefore entered in full.
Jonathan Cohen KC and Ashley Cukier of Littleton Chambers acted for the successful claimants, instructed by Andrew Marshall, John Day, Liina Tulk, and Alexandra Fountain of Edmonds Marshall McMahon.
