Court of Appeal considers damages for deceit in the context of contractual warranties

26 August, 2022
A recent Court of Appeal decision is a useful reminder of the principles the court will apply when assessing damages for deceit / fraudulent misrepresentation in the context of corporate acquisitions and other asset purchases: MDW Holdings Limited v James Robert Norvill, Jane Rosemary Norvill and Stephen John Norvill [2022] EWCA Civ 883. The decision illustrates … Read more

Claimants “substantially succeed” in the largest ever English civil fraud trial

21 February, 2022
The High Court has published a summary of its findings on liability in the long-running USD$5 billion civil fraud action brought by the Hewlett Packard group in connection with its acquisition of the UK software company Autonomy Corporation Limited (“Autonomy”) in 2012.  The claimants have “substantially succeeded” in their claims against two former Autonomy executives: … Read more

Court of Appeal rejects novel argument that fraud victims should give credit for the “time value” of cash received as part of a fraudulent transaction

15 February, 2022
In the context of a claim by a fraud victim seeking damages for consequential loss of investment opportunity, the Court of Appeal has rejected an argument by the fraudster that the victim was obliged to give credit not only for the cash they received as part of the relevant fraudulent transactions, but also for the … Read more

High Court finds that a claimant’s “awareness” of a representation is an essential prerequisite to a claim for misrepresentation

19 March, 2021
In a recent decision, the High Court has struck out claims against a defendant bank alleging implied fraudulent misrepresentations in relation to LIBOR, on the basis that the claimants had failed to plead that the alleged representations were actively present in their mind when entering into the products in question and therefore the claim stood … Read more