Remedies

Court of Appeal considers when court can use hindsight in assessing damages for “loss of a chance”

The Court of Appeal has considered the proper approach to awarding damages for the loss of a chance where a claimant has been deprived of a claim in litigation because of its lawyers’ negligence. It held that when courts value … Continue reading

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Filed under Evidence, Remedies, Tort

High Court applies SAAMCO principle to find no assumption of responsibility for losses flowing from market forces

In a recent decision, the High Court found that an auditor was not liable for break costs of some £32.7 million incurred as a result of its negligent advice in relation to the accounting treatment of interest rate swaps, as … Continue reading

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Filed under Contract, Remedies, Tort

Supreme Court decision clarifies basis for the award of Wrotham Park damages

In a recent decision, the Supreme Court overturned a Court of Appeal judgment which potentially expanded the availability of “Wrotham Park” or negotiating damages, and signalled a return to more orthodox reasoning in relation to the award of damages for … Continue reading

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Filed under Remedies

Causation in valuers’ negligence cases: Reliance on earlier valuations

The Supreme Court has held that where a lender advanced money on the basis of an initial valuation, then refinanced the facility (effectively repaying and replacing the original loan) on the basis of a second negligent valuation, the liability of the … Continue reading

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Filed under Remedies

Court of Appeal upholds order for payment of US$70 million under cross-undertaking in damages

The Court of Appeal has confirmed the court’s approach to issues of causation where a defendant applies to enforce a cross-undertaking in damages: SCF Tankers Ltd (formerly Fiona Trust & Holding Corp) v Privalov [2017] EWCA Civ 1877. A party … Continue reading

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Filed under Injunctions, Remedies

Getting your just deserts: Remedies for breach of contract

Establishing that a counterparty is in breach of contract is only the first hurdle to obtaining proper redress. It is just as important for the innocent party to show that it has suffered a loss as a result of the … Continue reading

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Filed under Contract, Remedies

Supreme Court clarifies principles for determining when benefits enjoyed by a claimant following a breach of contract will be treated as collateral

The Supreme Court has ruled that the owners of a ship that was redelivered early in breach of a charterparty did not have to give credit for the benefit they obtained by selling the vessel for a higher price upon … Continue reading

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Filed under Contract, Remedies

Supreme Court finds lender could not recover damages from negligent accountants where loss avoided by borrower’s repayment

The Supreme Court has held that the loss suffered by a lender due to its accountants’ breach of duty was extinguished when the loan was repaid by the borrower. It unanimously allowed an appeal against the majority judgment of the … Continue reading

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Filed under Remedies

The Marathon decision – is it right that employees can unlawfully remove confidential documents and not pay damages?

The High Court has recently considered the approach to assessing "licence fee damages" in a claim against two former employees of Marathon Asset Management, James Seddon and Luke Bridgeman, who breached their duties of confidence by unlawfully removing approximately 40,000 … Continue reading

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Filed under Confidentiality, Remedies

Court of Appeal allows claim for “loss of a chance” damages where claimant failed to establish causation on a balance of probabilities

In a claim for inducing a breach of contract, the Court of Appeal held that a football agent could claim damages for the lost chance of earning commission on a player's transfer, even though he could not establish that he … Continue reading

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Filed under Contract, Remedies