Shades of Gray: competing rights in the supercar market - .PDF file.
In Gray v Smith & Others, Mr Justice Cooke, sitting in the Commercial Court, determined a dispute involving conflicting proprietary claims to a rare McLaren F1 GTR Longtail.
The judge had to consider a series of transactions involving the Longtail, many of which were recorded by incomplete or contradictory documents. He also had to consider an issue about agency and a constructive trust, a rare beast in title disputes, as well as the manner in which motor dealers buy and sell cars.
Mr Gray frequently lent money to various individuals so that they could purchase supercars for him. One such individual was Mr Edwards, who was reputedly disorganised and often unreliable when presented with an invoice for payment…
Click on the link below to read the rest of the Addleshaw Goddard briefing.