Zaki & Ors v Credit Suisse (UK) Ltd [2012] EWCA Civ 583 (03 April 2012)

Zaki & Ors v Credit Suisse (UK) Ltd [2012] EWCA Civ 583 (03 April 2012)

The application for disclosure was refused because the documents sought were not relevant to the grounds of appeal or the issues raised by the Respondent's Notice. The claimants' request amounted to a speculative fishing expedition for potential new grounds of appeal, and the FSA's findings of systemic failures did not affect the judge's findings on suitability or causation in relation to Mr Zeid's investments.

Citation
[2012] EWCA Civ 583
Parties
Applicant/claimant: Soheir Ahmed Zaki; Applicant/claimant: Shahira Magdy Zeid; Applicant/claimant: Bahira Magdy Zeid; Applicant/claimant (deceased, Represented by Others): Mohamed Magdy Zeid; Respondent/defendant: Credit Suisse (UK) Limited
Jurisdiction
England and Wales
Judgment Date
03 April 2012
Procedural Posture
Civil Appeal / Application for Disclosure Pending Appeal
Outcome
Application refused
Legal Topics
Disclosure, Mis Selling of Financial Products, Statutory Duty, Suitability of Investment Advice, Leverage, Conduct of Business Rules
Financial Services Law Civil Procedure Disclosure Mis Selling of Financial Products Statutory Duty Suitability of Investment Advice Leverage Conduct of Business Rules

Case Brief

Summary, issues, holding and outcome

More case intelligence is available

Unlock the full research layer for this judgment.

Full judgment text Downloadable case file Legal principles 3 Authorities cited 4 Party arguments 2 Amounts and remedies 3
Sign in to unlock

Parties

Soheir Ahmed Zaki

Applicant/claimant

Shahira Magdy Zeid

Applicant/claimant

Bahira Magdy Zeid

Applicant/claimant

Mohamed Magdy Zeid

Applicant/claimant (deceased, Represented by Others)

Credit Suisse (UK) Limited

Respondent/defendant

Procedural Posture

Civil Appeal / Application for Disclosure Pending Appeal

Legal Issues

  1. 1 Whether Credit Suisse was obliged to disclose documents relating to the FSA investigation under CPR 31.12
  2. 2 Whether the requested documents are relevant to the grounds of appeal
  3. 3 Whether systemic failures identified by the FSA affect the suitability of advice or causation in the claim

Ratio Decidendi

The application for disclosure was refused because the documents sought were not relevant to the grounds of appeal or the issues raised by the Respondent's Notice. The claimants' request amounted to a speculative fishing expedition for potential new grounds of appeal, and the FSA's findings of systemic failures did not affect the judge's findings on suitability or causation in relation to Mr Zeid's investments.

Court Disposition

Application refused

Orders

  • No order for disclosure; application dismissed