The doctrine of res judicata was applicable to prevent a complainant who had once accepted an award from the Financial Ombudsman Service from starting additional legal proceedings to pursue complaints already been submitted to the ombudsman and on which the ombudsman had decided. Section 228(5) of the Financial Services and Markets Act 2000 did not exclude the operation of res judicata.
Judges:
Arden, Black, Davis LJJ
Citations:
[2014] EWCA Civ 118, [2014] Lloyd’s Rep IR 437, [2014] 1 WLR 2502, [2014] 3 All ER 313, [2014] 2 All ER (Comm) 159, [2014] PNLR 19, [2014] WLR(D) 76, [2014] 1 CLC 170
Links:
Statutes:
Financial Services and Markets Act 2000 228(5)
Jurisdiction:
England and Wales
Citing:
Appeal from – Clark and Another v In Focus Asset Management and Tax Solutions Ltd QBD 19-Dec-2012
The court was asked whether it is open to parties, having accepted a favourable determination of the Financial Services Ombudsman, later to claim in court for damages to cover what they allege is their full loss. . .
Lists of cited by and citing cases may be incomplete.
Financial Services
Updated: 13 November 2022; Ref: scu.521208