Supreme Court changes law on when time starts to run for limitation purposes in a claim to recover money paid under a mistake of law

In the latest decision in the long-running Franked Investment Income (“FII”) Group Litigation, the Supreme Court has held that, for a claim to recover money paid under a mistake of law, the statutory limitation period begins to run when a claimant could with reasonable diligence have discovered the mistake, in the sense of recognising that … Read more

Lessons on limitation – two recent decisions highlight traps for the unwary

Two recent decisions illustrate short but important points of practice in relation to limitation. In the first, the High Court found that the six year limitation period for contract claims potentially applies where a party seeks to enforce a settlement under a Tomlin order, even if the claimant does not need to commence a new … Read more

Contractual time bar did not prevent third party contribution claims

The High Court has held that a contractor could be joined to proceedings as a third party (or Part 20 defendant) so that the main defendants could pursue a contribution claim against the contractor, even though the claimant's direct claims against the contractor were subject to a contractual time bar: Bloomberg LP v Sandberg (a … Read more

High Court finds no continuing contractual duty to correct investment advice

A recent decision of the High Court provides comfort to financial institutions and other professionals facing claims based on an alleged continuing contractual duty to correct earlier advice: Worthing and Another v Lloyds Bank plc [2015] EWHC 2836 (QB). Where a claim is brought more than six years after an alleged breach of contract, and … Read more