Zaki & Ors v Credit Suisse (UK) Ltd

Zaki & Ors v Credit Suisse (UK) Ltd

The application for disclosure was refused because the documents sought were not relevant to the issues raised in the grounds of appeal or the Respondent's Notice. The FSA findings related to systemic failures, not to the suitability of advice or causation in the claimants’ case, and would not have affected the judge’s findings on those key issues. The application amounted to a speculative search for new grounds of appeal, which is not a proper basis for disclosure.

Parties
Applicant/claimant: Soheir Ahmed Zaki; Applicant/claimant: Shahira Magdy Zeid; Applicant/claimant: Bahira Magdy Zeid; Applicant/claimant: Mohamed Magdy Zeid (deceased, represented by above); 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 of Documents, Mis Selling of Financial Products, Breach of Statutory Duty, Suitability of Investment Advice
Banking and Finance Law Civil Procedure Disclosure of Documents Mis Selling of Financial Products Breach of Statutory Duty Suitability of Investment Advice

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Parties

Soheir Ahmed Zaki

Applicant/claimant

Shahira Magdy Zeid

Applicant/claimant

Bahira Magdy Zeid

Applicant/claimant

Mohamed Magdy Zeid (deceased, represented by above)

Applicant/claimant

Credit Suisse (UK) Limited

Respondent/defendant

Procedural Posture

Civil Appeal / Application for Disclosure Pending Appeal

Legal Issues

  1. 1 Whether Credit Suisse should be ordered to disclose documents relating to the FSA investigation and skilled person’s report in advance of the appeal hearing
  2. 2 Whether such documents are relevant to the issues raised in the grounds of appeal

Ratio Decidendi

The application for disclosure was refused because the documents sought were not relevant to the issues raised in the grounds of appeal or the Respondent's Notice. The FSA findings related to systemic failures, not to the suitability of advice or causation in the claimants’ case, and would not have affected the judge’s findings on those key issues. The application amounted to a speculative search for new grounds of appeal, which is not a proper basis for disclosure.

Court Disposition

Application refused

Orders

  • No order for disclosure; application dismissed