Cole & Ors v Scion Ltd & Ors

Cole & Ors v Scion Ltd & Ors

The application for summary judgment fails because there is a reasonable prospect that Claimants did not have the requisite constructive knowledge as a result of the October/November 2012 letters, and may have needed reasonable time to seek expert advice. The complexity and technical nature of the correspondence, combined with the Claimants' characteristics, means the issue is triable and not suitable for summary determination.

Parties
Claimants: Andrew Cole & others; Defendants: Scion Limited & others; 3rd Defendant: Carpenter Rees Ltd
Jurisdiction
England and Wales
Judgment Date
30 April 2020
Procedural Posture
Civil / Application for Summary Judgment or Strike Out
Outcome
Application for summary judgment and strike out dismissed.
Legal Topics
Latent Damage, Constructive Knowledge, Summary Judgment, Vicarious Liability, Financial Advice, Tax Efficient Investments
Limitation of Actions Negligence Financial Services Latent Damage Constructive Knowledge Summary Judgment Vicarious Liability Financial Advice +1 more

Case Brief

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Parties

Andrew Cole & others

Claimants

Scion Limited & others

Defendants

Carpenter Rees Ltd

3rd Defendant

Procedural Posture

Civil / Application for Summary Judgment or Strike Out

Legal Issues

  1. 1 Whether claims against Carpenter Rees Ltd are statute-barred under s.14A Limitation Act 1980
  2. 2 Whether Claimants had constructive knowledge of damage and attributability before 5 November 2012
  3. 3 Whether summary judgment or strike out is appropriate

Ratio Decidendi

The application for summary judgment fails because there is a reasonable prospect that Claimants did not have the requisite constructive knowledge as a result of the October/November 2012 letters, and may have needed reasonable time to seek expert advice. The complexity and technical nature of the correspondence, combined with the Claimants' characteristics, means the issue is triable and not suitable for summary determination.

Court Disposition

Application for summary judgment and strike out dismissed.

Orders

  • Application for summary judgment dismissed.
  • Application to strike out dismissed.