The claimant purchased a pension plan relying upon advice from the defendant. Since discovering the error, the plan had in fact prospered. The respondent appealed the judges failure to allow fully for the improvement when assessing damages.
Held: Part of the claim required both to assess the loss as at 1995, and to recover later loses. It was double recovery. As to the rest the damages which might be assessed in 1995 would have disappeared by 2000. The claimant had not liquidated the fund in 1995. He had however still been misled by the defendant, and had acted as if the loss had been incurred. The damages stood to be assessed as at 1995.
Judges:
Lord Justice Simon Brown, Lord Justice Mance And Lord Justice Latham
Citations:
[2002] EWCA Civ 1327
Links:
Jurisdiction:
England and Wales
Citing:
Cited – British Westinghouse Electric and Manufacturing Co v Underground Electric Railways Co (London) Limited HL 1912
The plaintiffs purchased eight steam turbines from the defendants. They later proved defective, and the plaintiffs sought damages. In the meantime they purchased replacements, more effective than the original specifications. In the result the . .
Cited – Needler Financial Services Ltd v Taber ChD 31-Jul-2001
The claimant had been negligently advised to swap to a personal pension plan. He was to receive damages in respect of that loss, but, in the meantime, the pension company, of which he had become a member de-mutualised, and he became entitled to . .
Lists of cited by and citing cases may be incomplete.
Financial Services, Damages, Professional Negligence
Updated: 01 September 2022; Ref: scu.177331
