High Court upholds contractual terms setting out basis of relationship in dismissing breach of duty claim relating to introduction to third party investment schemes

The High Court has upheld certain contractual terms which set out the basis of the parties’ relationship in dismissing a breach of duty claim by an investor and his associated companies against a chartered accounting firm in relation to losses alleged to have been suffered as a result of their introduction by the firm to … Read more

Court of Appeal upholds decision correcting drafting error by interpretation

The Court of Appeal has dismissed an appeal against a High Court decision which went against the unambiguous literal meaning of the clause: MonSolar IQ Ltd v Woden Park Ltd [2021] EWCA Civ 961. This is an application of what the court referred to as the Chartbrook principle, by which clear mistakes in the drafting of a document can … Read more

Court of Appeal determines that a fiduciary relationship is not a necessary pre-condition to relief in respect of an undisclosed commission paid to an agent

The Court of Appeal has found that a fiduciary relationship is not a necessary pre-condition to relief in respect of an undisclosed commission paid to an agent. Instead, the court should determine whether the agent was obliged to provide information, advice or recommendation on an impartial or disinterested basis, saying that “it is the duty … Read more

High Court strikes out time-barred claims holding that banks did not deliberately conceal facts so as to extend the limitation period

The High Court has granted applications by two banks to strike out claims brought against them after the primary limitation period for the claims had expired. This decision provides a helpful summary of the case law surrounding the operation of section 32(1)(b) Limitation Act 1980 (LA 1980), a provision that we are increasingly seeing claimants … Read more

Hong Kong court refuses to expand scope of Quincecare duty

The Hong Kong Court of First Instance has dismissed a claim for breach of the so-called Quincecare duty of care on the basis that the duty could only arise in circumstances where misappropriation of a customer’s funds occurred by an authorised or trusted agent of the customer, rather than where the customer itself instructed payment … Read more