Taberna Europe CDO II Plc v Selskabet AF 1.September 2008 in Bankruptcy [2016] EWCA Civ 1262 (08 December 2016)

Section 2(1) Misrepresentation Act 1967 entitles recovery only for losses arising from entering into a contract directly with the representor; Taberna's loss arose from its contract with Deutsche Bank, not Roskilde, and Roskilde's disclaimer was effective to exclude liability.

Citation: [2016] EWCA Civ 1262
Parties: Claimant/respondent: Taberna Europe CDO II Plc; Defendant/appellant: Selskabet af 1. September 2008 in Bankruptcy (formerly Roskilde Bank A/S)
Jurisdiction: England and Wales
Judgment Date: 08 December 2016
Procedural Posture: Appeal From High Court (commercial Court) / Court of Appeal Judgment
Outcome: Appeal allowed; claim dismissed
Legal Topics: Misrepresentation, Damages, Exclusion Clauses, Contributory Negligence, Statutory Interpretation

Commercial Law Banking Law Contract Law Tort Law Misrepresentation Damages Exclusion Clauses Contributory Negligence +1 more

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Parties

Taberna Europe CDO II Plc

Claimant/respondent

Selskabet af 1. September 2008 in Bankruptcy (formerly Roskilde Bank A/S)

Defendant/appellant

Procedural Posture

Appeal From High Court (commercial Court) / Court of Appeal Judgment

Legal Issues

1 Whether Roskilde made a misrepresentation to Taberna regarding non-performing loans
2 Whether Taberna is entitled to damages under section 2(1) Misrepresentation Act 1967
3 Effectiveness of disclaimer/exclusion clauses

Ratio Decidendi

Court Disposition

Appeal allowed; claim dismissed

Orders

Judgment for Taberna set aside
No damages recoverable against Roskilde under section 2(1) Misrepresentation Act 1967