Litigation Notes

Supreme Court strikes out Quincecare claim where no loss suffered by insolvent Ponzi scheme

The Supreme Court has upheld the Court of Appeal's decision to strike out a claim brought by the liquidators of a Ponzi scheme against its correspondent …

Court of Appeal confirms reflective loss rule will bar claims of former shareholders of a dissolved company because the principle must be determined at time of alleged loss

The Court of Appeal has upheld a decision of the High Court to strike out a claim by the former shareholders of a dissolved company against an investor …

Court of Appeal considers approach to damages for breach of warranty and deceit in context of share sale

Freezing orders brought onto the blockchain and service of proceedings via NFTs

Court of Appeal finds claim for wasted expenditure not excluded by clause excluding consequential losses

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 brought by the victim of a fraud against the perpetrator, seeking damages for consequential loss of investment opportunity in …

Commercial litigation podcast series – Episode 10: General update

High Court finds acceleration clause is susceptible to rule on penalties, but declines to apply the rule as the amounts in question were payable in any event under a separate clause

Privy Council confirms that the so-called “reflective loss” principle applies to ex-shareholders

The Board of the Privy Council has allowed an appeal in relation to the application of the so-called “reflective loss” principle, confirming that the …

Supreme Court restores orthodox approach to liquidated damages for delay where work never completed

The Supreme Court has overturned a Court of Appeal decision which held that a clause providing for liquidated damages for delay did not apply where the …

High Court finds buyer not entitled to reject off-spec oil

A recent High Court decision has given a helpful analysis of the consequences that follow from delivering off-specification oil: Galtrade Limited v BP …

Court of Appeal clarifies proper approach to assessing damages for fraudulent misrepresentation

The Court of Appeal has allowed an appeal by a purchaser in the context of its claim for damages for fraudulent misrepresentation against the sellers of …