Williams & Anor v Lishman, Sidwell, Campbell & Price Ltd & Ors [2009] EWHC 1322 (QB) (12 June 2009)

Williams & Anor v Lishman, Sidwell, Campbell & Price Ltd & Ors [2009] EWHC 1322 (QB) (12 June 2009)

The claims against the First and Third Defendants are statute barred because the Claimants had actual or constructive knowledge of the relevant facts by the end of 2002 or mid-2003, more than three years before the claim was issued. Section 14A does not assist the Claimants as they could and should have known of the alleged negligence earlier. Section 32 does not apply as the alleged concealment of early surrender charges was not a fact relevant to the right of action for the main claim. The First Defendants owed no continuing duty after December 1997.

Citation
[2009] EWHC 1322
Parties
Claimant: John Williams; Claimant: Judith Anne Williams; First Defendant: Lishman, Sidwell, Campbell & Price Limited; Second Defendant: Retirement Asset Management Limited; Third Defendant: Northern Financial Management Limited; Fourth Defendant: Solicitors Financial Management Limited
Jurisdiction
England and Wales
Judgment Date
12 June 2009
Procedural Posture
Civil (negligence, Financial Advice) / Application for Strike Out/summary Judgment on Limitation Grounds
Outcome
Applications granted. Claims struck out/summary judgment for First and Third Defendants on limitation grounds.
Legal Topics
Limitation of Actions, Negligent Financial Advice, Deliberate Concealment, Continuing Duty, Summary Judgment
Tort Professional Negligence Financial Services Law Limitation of Actions Negligent Financial Advice Deliberate Concealment Continuing Duty Summary Judgment

Case Brief

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Parties

John Williams

Claimant

Judith Anne Williams

Claimant

Lishman, Sidwell, Campbell & Price Limited

First Defendant

Retirement Asset Management Limited

Second Defendant

Northern Financial Management Limited

Third Defendant

Solicitors Financial Management Limited

Fourth Defendant

Procedural Posture

Civil (negligence, Financial Advice) / Application for Strike Out/summary Judgment on Limitation Grounds

Legal Issues

  1. 1 Whether the claims against the First and Third Defendants are statute barred under the Limitation Act 1980
  2. 2 Whether Section 14A or Section 32 of the Limitation Act 1980 applies to extend the limitation period
  3. 3 Whether the First Defendants owed a continuing duty to the Claimants after October 2000

Ratio Decidendi

The claims against the First and Third Defendants are statute barred because the Claimants had actual or constructive knowledge of the relevant facts by the end of 2002 or mid-2003, more than three years before the claim was issued. Section 14A does not assist the Claimants as they could and should have known of the alleged negligence earlier. Section 32 does not apply as the alleged concealment of early surrender charges was not a fact relevant to the right of action for the main claim. The First Defendants owed no continuing duty after December 1997.

Court Disposition

Applications granted. Claims struck out/summary judgment for First and Third Defendants on limitation grounds.

Orders

  • Entirety of the claim against the First Defendants struck out and/or summary judgment entered for First Defendants.
  • Paragraphs 43 and 44 of the Particulars of Claim against the Third Defendants struck out and/or summary judgment entered for Third Defendants in respect of those claims.