JSC INVESTMENT LTD. (PLAINTIFF/RESPONDENT) vs. ACTIVITY VENTURER FINANCE CO. LTD. (DEFENDANT/APPELLANT)

MARFUL-SAU JA: This appeal is taken from the judgment of the High Court (Commercial Division) dated the 8th of June, 2010. By a writ of summons filed on the 7th of October, 2008, the Plaintiff claimed the following against the Defendant: ‘’a. $180,000 being entitlements due to the Plaintiff under the Agreement. b. Interest on the said amount due to the plaintiff from the 12th of June 2008 date of termination till date of final payment.’’ In this appeal the Plaintiff will be referred to as the Respondent while the Defendant will be known as the Appellant. The facts of the case are quite simple. The parties herein entered into a contract on the 1st November 2006, by which the Respondent was engaged to manage investment fund provided by the Appellant. Under the Fund Management Agreement which regulated the rights and obligations of the parties, the Respondent was to be paid 2.5% of the committed capital as management fee per annum. From the record of appeal the committed cap...