High Court rejects Ferrari family fraud claim: G.I Globinvest Limited and ors v XY ERS UK Limited and ors [2025] EWHC 740 (Comm)

The High Court has dismissed a €50 million fraud claim following a seven-week trial in the Commercial Court. In his judgment, Mr Justice Jacobs rejected allegations arising from investments in an alternative investment fund which lost value resulting from the market shock of the COVID-19 pandemic and other geopolitical factors in early 2020.

The claim was brought by Luca Cordero di Montezemolo, former Chairman of Ferrari, alongside his son, Matteo Cordero di Montezemolo, and GI Globinvest.

Devon Airey acted successfully in defending a claim of unlawful means conspiracy against the Sixth Defendant, Twinkle Capital SA (led variously by Adam Cloherty KC, James Fennemore and Matthew Bradley KC).

Devon was instructed, variously, by Bird & Bird LLP and Peters & Peters Solicitors LLP.

The full judgment can be found here.