As Robert Burns wrote, freedom and whisky may ‘gang thegither’ but it is fraud and wine making a fine pairing in the news recently by way of two separate examples of dishonest wine investment schemes.

Global Wine Exchange Limited

The first concerns Global Wine Exchange Limited (“Global”), which was wound-up in the public interest on 22 March 2022 following abuse of more than £1.9m of clients’ funds in a wine investment scheme.

Bailey v Angove’s Pty Ltd [2016] UKSC Civ 47

SUMMARY

The Supreme Court in this case had to consider whether an agent’s authority to accept payments had been ended by the principal’s termination of the agency agreement or if the agent’s authority was irrevocable in spite of the termination notice and permitted the agent to receive remaining payments due from customers for goods supplied during the term of the agreement.

BACKGROUND