Remedies

Court of Appeal applies rigorous approach to assessing purpose element of claims to set aside transactions defrauding creditors

Despite evidence that a defendant knew he was facing potential proceedings which could bankrupt him, at the time he transferred assets to his son, the Court of Appeal held that this was not sufficient to find that the transfer was … Continue reading

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Filed under Evidence, Miscellaneous, Remedies

High Court finds strike out of response to unfair prejudice petition does not automatically entitle petitioner to relief

In a recent judgment, the High Court has considered the extent to which petitioners in relation to unfair prejudicial conduct of a company’s affairs can obtain relief simply on the basis that a respondent’s defence has been struck out: Re … Continue reading

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Filed under Evidence, Interim applications, Judgments/Orders, Remedies

Court of Appeal finds non-shareholder creditor’s claim barred by rule against reflective loss

In a recent decision, the Court of Appeal has clarified the ambit of the so-called rule against reflective loss, which has traditionally operated to prevent shareholders from bringing claims where their loss merely reflects the loss suffered by the company: … Continue reading

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Filed under Miscellaneous, 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