Omair Ahmed & Ors v White & Company (UK) Limited & Anor

Omair Ahmed & Ors v White & Company (UK) Limited & Anor

The court held that the only valid notification of circumstances was in respect of the Akbar Claimants, not the wider group of claimants or investments. The Block Notification related to MKP, not White & Co. The Kennedys Documents were not valid notification under the policy or minimum terms, as they were not communicated by the insured or its authorised agent. The Tax Mitigation Endorsement applies to all EIS, Seed EIS, Super EIS, and FRB investments as they were artificial transactions designed for tax outcomes. The Related Claims provision aggregates all such claims into a single £2m limit. Seed EIS and Ober investments are included in the pleaded claims due to lack of prejudice to...

Parties
Claimants: Omair Ahmed & Others; First Defendant: White & Company (UK) Limited; Second Defendant: Allianz Global Corporate & Speciality SE
Jurisdiction
England and Wales
Judgment Date
22 September 2025
Procedural Posture
Commercial Insurance Coverage Dispute / Judgment After Preliminary Trial on Coverage Issues
Outcome
Claimants' claims for indemnity under the Allianz policy are limited to those investments and claimants for which valid notification was given; all EIS, Seed EIS, Super EIS, and FRB claims are aggregated under the Tax Mitigation Endorsement and Related Claims provision to a single £2m limit.
Legal Topics
Notification of Circumstances, Professional Indemnity Insurance, Aggregation of Claims, Tax Mitigation Schemes, Construction of Insurance Policy Terms
Insurance Law Professional Negligence Contract Law Notification of Circumstances Professional Indemnity Insurance Aggregation of Claims Tax Mitigation Schemes Construction of Insurance Policy Terms

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Parties

Omair Ahmed & Others

Claimants

White & Company (UK) Limited

First Defendant

Allianz Global Corporate & Speciality SE

Second Defendant

Procedural Posture

Commercial Insurance Coverage Dispute / Judgment After Preliminary Trial on Coverage Issues

Legal Issues

  1. 1 Whether the claimants' claims fall within the scope of the Allianz professional indemnity policy for White & Co.
  2. 2 Whether valid notification of circumstances was given to Allianz under the policy or minimum terms.
  3. 3 Whether the Tax Mitigation Endorsement applies to the claims and limits indemnity.

Ratio Decidendi

The court held that the only valid notification of circumstances was in respect of the Akbar Claimants, not the wider group of claimants or investments. The Block Notification related to MKP, not White & Co. The Kennedys Documents were not valid notification under the policy or minimum terms, as they were not communicated by the insured or its authorised agent. The Tax Mitigation Endorsement applies to all EIS, Seed EIS, Super EIS, and FRB investments as they were artificial transactions designed for tax outcomes. The Related Claims provision aggregates all such claims into a single £2m limit. Seed EIS and Ober investments are included in the pleaded claims due to lack of prejudice to...

Court Disposition

Claimants' claims for indemnity under the Allianz policy are limited to those investments and claimants for which valid notification was given; all EIS, Seed EIS, Super EIS, and FRB claims are aggregated under the Tax Mitigation Endorsement and Related Claims provision to a single £2m limit.

Orders

  • Permission to amend Particulars of Claim to include Seed EIS and Ober investments.
  • Declaration that only Akbar Claimants' claims were validly notified under the policy.