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

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

Fraudulent misrepresentation: High Court considers the requirement for claimants’ “awareness” of implied representations

In the context of an application to strike out or summarily dismiss a claim for fraudulent misrepresentation, the High Court has held that conscious awareness of the alleged implied representation was not necessary for the claim to have a real prospect of success at trial: Crossley & Ors v Volkswagen Aktiengesellschaft & Ors [2021] EWHC 3444 … Read more

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

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

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