Edmund Cullen KC and Edward Granger have successfully defended Merck Mercuriadis, the noted music industry professional, against multi-million pound claims for breach of fiduciary duty. After a 5 week trial, Adam Johnson J dismissed all the claims against Mr Mercuriadis and his co-defendants.

The claim arose out of Mr Mercuriadis’s launch of the Hipgnosis Fund, first LSE-listed vehicle for investment in music publishing catalogues. The launch of the fund followed an earlier abortive bond fundraising venture in which Mr Mercuriadis was involved through a subsidiary of the claimant. The judgment addresses a wide range of issues in relation to directors’ duties, including, in particular, the scope of those duties where a company is dissolved and subsequently restored and consideration of what amounts to a “maturing business opportunity” that a former director is not permitted to exploit.

Edmund and Edward were instructed by Dominic Crossley and Andrew Willan at Payne Hicks Beach LLP.

Read the full judgment: Hipgnosis Music Limited v (1) Merck Mercuriadis (2) Hipgnosis Fund Limited (3) Hipgnosis Song Management Limited [2026] EWHC 1500 (Ch)