Professional and financial risks
No way out
If there was ever any doubt about the determination of judges to follow the Court of Appeal's decision in Mitchell v NGN [2013] EWCA Civ 1537, cases since then have shown that they are at least taking heed of the warning delivered by the Master of the Rolls.
Read moreRICS UK Valuation Commission Report
Today sees the launch of the RICS UK Valuation Commission Report.
Read moreNow do as you are told!
In the case of Thavatheva Thevarajah -v- John Riordan and Others, the Court of Appeal has once again made clear that, if you fail to follow directions for a claim, you will be penalised.
Read moreArchitect's negligence: Strike Out Application fails to determine limitation position
Edwards-Stuart J recently held in Venulum Property Investments Ltd v Space Architects Ltd & 5 Ors (2013) that it was not appropriate to decide the limitation issues via a strike out application in the absence of full evidence.
Read moreAspect Contracts (Asbestos) Ltd v Higgins Construction Plc
Court of Appeal - 29 November 2013
Read moreYou have been warned - comply or else!
On 27 November 2013 the Court of Appeal handed down its eagerly awaited judgment in Mitchell v News Group Newspapers [2013] EWCA Civ 1526.
Read moreMediate or be damned
In a landmark decision released yesterday, the Court of Appeal has upheld the decision to deprive a Defendant of part of its costs, for failing to respond to repeated requests to mediate, even though it made a Part 36 offer which the Claimant failed to accept until just before trial.
Read moreInterest rate hedging products: mis-selling - Update on Green v Royal Bank of Scotland
The Court of Appeal recently published its judgment in Green v Royal Bank of Scotland Plc [2012] EWHC 3661 QB, the first decided case concerning the alleged mis-selling of Interest Rate Hedging Products ("IRHPs").
Read moreUpdate on Clark v In Focus appeal
The landmark appeal in Clark v In Focus is today being heard by the Court of Appeal, who will decide whether a complainant can accept an award at FOS and then sue for the balance through the courts.
Read moreMinistry of Justice's call for evidence leads to cry for fully independent regulation from SRA
The Solicitors Regulation Authority (SRA) has responded to the Ministry of Justice's (MoJ) call for evidence on the regulation of legal services in England and Wales demanding truly independent regulation.
Read moreIs sunlight a nuisance?
Reports that sunlight reflecting from the unusually shaped "Walkie Talkie" building at 20 Fenchurch Street in London has melted parts of a Jaguar motor-vehicle parked on Eastcheap Street raises an interesting question whether reflected sunlight or heat from a building is actionable in law.
Read moreTax avoidance – the beginning of the end?
Last week HMRC published a consultation document entitled "Raising the stakes and tax avoidance".
Read moreFirst reported vibration white finger professional negligence claim brings white knuckle decision to those advising defendants
The first reported professional negligence case arising out of under-settlements for former miners in the government's vibration white finger ("VWF") compensation scheme has recently come to trial.
Read moreCompetition Commission releases proposed remedies on the supply of statutory audit services
Earlier this week the Competition Commission ("CC") published its provisional decision on the remedies it is considering introducing when it publishes its final report on the supply of statutory audit services to large companies in the UK.
Read moreProposals to increase claims against directors
We note with interest the Government's Discussion Paper, 'Transparency & Trust: Enhancing The Transparency of UK Company Ownership And Increasing Trust in UK Business', published yesterday.
Read moreFlood risk insurance: disaster averted?
In a press release co-ordinated with the Government's announcement to Parliament on 27 June 2013 on infrastructure spending ...
Read moreGuillotine for ATE/CFA recoverability?
A Law Society Gazette report emanating from a recent conference suggested that introduction of a six month time limit is under consideration by MOJ for recoverability of CFA/ATE premiums entered into prior to the 1 April cost reforms.
Read moreInsurer collapse adds to mounting financial pressures within the legal sector
Latvian insurer Balva announced yesterday that it has called in liquidators, leaving approximately 1,300 firms of solicitors across England and Wales effectively without PI insurance cover.
Read moreRedress for unsuitable mortgage advice set to increase as Court of Appeal upholds High Court decision in Emptage v Financial Services Compensation Scheme
The Court of Appeal has today dismissed the appeal in the case of Emptage v Financial Services Compensation Scheme.
Read moreSubstantial delays and the FOS - R (on the application of CALLAND) v FINANCIAL OMBUDSMAN SERVICE LTD (2012)
The court has recently decided that a six and a half year delay between the FOS receiving a complaint from an investor and making a final decision against an IFA did not breach the IFA's rights under Article 6 of the ECHR.
Read moreFlood risk insurance open market – countdown to 31 July
In less than 8 weeks a substantial number of properties may suffer significant loss of capital value if their owners are no longer be able to obtain flood risk insurance.
Read moreWhen the going gets tough, the tough must keep their standards….
The Solicitors Regulation Authority (SRA) yesterday warned solicitors of the danger of the non-compliance trap in tough financial times.
Read moreCPR3.9 Refusal of relief from sanction - solicitors negligence claim now pending
In Venulum Property Investments Ltd v Space Architecture Ltd & Ors, an application was made for permission to extend time for service of the Particulars of Claim as a result of the Claimant's solicitors misreading the relevant rule and failing to serve the Particulars within time.
Read moreInterest Rate Hedging Products Mis-selling Update
(The following article by Simon Greenley/James Wickes was first published in Insurance Day (www.insuranceday.com) on 30 May 2013).
Read moreUnravelling Transactions – The Party's Over
The Supreme Court upheld the Court of Appeal's decision in Futter v Futter and Pitt v Holt as to the scope of the rule In re Hastings-Bass, but has overturned the Court of Appeal's decision on the application of mistake in Pitt.
Read more"Transition management" – possible notifications from FCA investigations
It has been reported in the FT overnight that the FCA is swooping on the London offices of the world’s biggest banks and asset managers in a new probe aimed at a widespread (and reportedly lucrative) type of business known in the industry as "transition management".
Read moreCausation Basics: The breach must cause the loss
In the recent case of Clack v Wrigley Solicitors LLP, the Courts have reaffirmed the principles set down in SAAMCO and Nykredit; liability for loss is limited to the loss attributable to the misconduct.
Read moreEven Consumers Can Forfeit Their Rights For Breach of Policy Conditions
The judgment of Teare J in Parker v National Farmers Mutual [2012] EWHC 2156 (Comm) is worthy of note on a number of fronts, but particularly with regard to the judge's application of ICOBS 8.1, under which an insurer cannot unreasonably reject a consumer policyholder's claim.
Read moreProsecuting "insider dealing" in Hong Kong
Hong Kong's top court expected to confirm there is a "third way"
Read moreProfessional indemnity insurers urged to robustly defend growing number of cases
There has been a spate of professional negligence claims lodged against the promoters of tax avoidance schemes following a clampdown on these schemes by HM Revenue & Customs (HMRC), as we have recently noted in the Financial Times.
Read moreUS Auditor Scandal Intensifies Calls for Tougher Regulation
The recent revelation that a partner in KPMG leaked insider information in exchange for cash and gifts may intensify calls for a shake-up in the regulation of auditors, especially in the US.
Read moreRise of accountancy profession in China
The accountancy profession is on the rise in China.
Read moreSize does matter – risk of potential claims against estate agents
A recent Financial Times article has highlighted a potential risk area for estate agents.
Read moreCourt of Appeal gives judgment on the potential liability of solicitors for a non-party costs order
In two joined cases , the Court of Appeal considered the potential liability of solicitors for a non-party costs order, if they fund disbursements.
Read moreNEWS: Scullion appeal to Supreme Court withdrawn – no duty of care owed by mortgage valuer to BTL investors – relief for valuers and their insurers
The appeal by buy-to-let (BTL) investor Mr Scullion – due for hearing at the Supreme Court today – was withdrawn on confidential terms this morning.
Read moreThe official line – how Judges are being instructed to implement Jackson costs reforms
A recent speech at the Judicial College by the Master of the Rolls (Lord Dyson) shows precisely how Judges are being instructed to implement two key aspects of the Jackson costs reforms:
Read moreFollow landmark valuers 'duty of care' hearing (Scullion) live next week
In 2011 the Appeal Court decided unanimously that the valuer's duty of care, when reporting to its lender client, should not extend to cover a buy-to-let investor (as distinct from a residential purchaser):
Read moreThe trigger for liability coverage - actual liability or reasonable settlement?
On 28 February 2013 judgment was delivered in the case of AstraZeneca Insurance Company Limited v XL Insurance (Bermuda) Limited and ACE Bermuda Insurance Limited [2013] EWHC 349.
Read moreRobust judicial case management in action
In a Judgment handed down on 14 March 2013, the Court has sent a powerful message to all parties, and to their solicitors, about the immediate and painful financial consequences of 'manoeuvring' and seeking to frustrate effective judicial case management.
Read moreLSB request rejected: SRA confirm no review into separate business rule
The Solicitors Regulation Authority ("SRA") have rejected the Legal Services Board ("LSB") request that they conduct a review of the separate business rule ("SBR"), as it is not in the public interest to do so and the necessary resources are not available.
Read moreNo Fishing!
A recent High Court decision has reminded Claimants that pre-action disclosure applications cannot be used as fishing expeditions to form or strengthen any unsubstantiated claims.
Read moreNew Sanctions Guidance For Accountants and Actuaries' Investigations
The Financial Reporting Council ("FRC") has published its first Sanctions Guidance for individuals and member firms under investigation.
Read moreThe rush for ATE – and the risk of claims arising
After-the-event insurance premiums have been a plague to surveyors, who have borne the brunt of claims arising from the property crash.
Read moreFlood risk insurability – are you exposed?
On 1 July 2013, barring unexpected developments, flood risk insurance for residential property will move to the open market leaving an estimated 200,000 properties exposed to the possibility of severe capital value reductions.
Read moreFinal curtain call
On 14 February 2013 the Court of Appeal in Miller v Sutton [2013] EWCA Civ brought to an end a long running campaign by Mr Miller against his former solicitor in relation to his failed business selling Jimi Hendrix CDs.
Read moreTake care of your letterhead ...
In UCB Home Loans Corporation Ltd v Soni & Co the Court of Appeal has found that a partner in a solicitor's firm was not liable under the S14 Partnership Act 1980 for fraudulent representations made by another partner to a mortgage lender.
Read moreLenders' contributory negligence - a blunted blade?
Notwithstanding the growing impact of limitation defences, many UK lenders' portfolios remain exposed.
Read moreClarification of solicitors' breach of trust claims in a re-mortgage situation
The Court of Appeal on 8 February 2013 in AIB Group (UK) plc v Mark Redler & Co [2013] EWCA Civ 45 has provided further clarification of the necessary ingredients to establish breach of trust by solicitors in a lender's claim.
Read moreEngineer held liable for losses caused by the fall in property values
An engineer may be liable to his client for losses caused by a fall in property values. So held the Court of Appeal in the case of John Grimes Partnership Ltd v Gubbins.
Read moreAnnual Review 2012/13
2013 is set to be a turbulent year across many classes of insurance business, especially those which will be affected by the Jackson Reforms revolution in the UK.
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