FIRST DIVISION, INNER HOUSE, COURT OF SESSION
Lord President Lord Carloway Lord Kingarth	[2012] CSIH 42 CA165/08 OPINION OF THE COURT delivered by LORD CARLOWAY in the reclaiming motion in causa GILLESPIE INVESTMENTS LTD., Pursuers and Respondents; against JOHN McLEAN THOMSON GILLESPIE Defender and Reclaimer: _______

Act: Ferguson, Q.C., Simpson; Semple Fraser LLP (Pursuers and Respondents)

Alt: Moynihan, Q.C., McIlvride; Anderson Fyfe LLP (Defender and Reclaimer)

27 April 2012

[1] This Opinion requires to be read in conjunction with that delivered today in the related action by the pursuers against the defender's father, namely Thomas Graham Gillespie. It is not now disputed that, prior to the sale of the whole share capital of the pursuers by the defender's father and his father's brothers on 12 May 2006, the defender, who was a director of the pursuers, misappropriated from the pursuers funds totalling £326,304.26. The Commercial Judge granted decree in favour of the pursuers for one quarter of that sum. Although, in terms of the Opinion in the related action, the court does not agree with the Commercial Judge's reasoning in reaching the conclusion that there ought to be decree for only that quarter share, for the reasons given in that Opinion, it refuses the reclaiming motion and the cross reclaiming motion and adheres to the interlocutor of the Commercial Judge dated 22 June 2011.