Change Red Ltd v Barclays Bank Plc

Change Red Ltd v Barclays Bank Plc

The meaning of 'turnover' as used in the FCA agreement, which refers to the Companies Act 2006, is a question of law for the court and not a matter for expert accountancy evidence. Therefore, expert evidence on the meaning or calculation of 'turnover' is inadmissible. Consequently, non-expert opinion evidence from...

Source-derived case information.

Parties
Claimant: Change Red Limited; Defendant: Barclays Bank PLC
Jurisdiction
England and Wales
Judgment Date
15 December 2016
Procedural Posture
Civil (commercial/banking) / Ruling on Case Management Conference (cmc) Regarding Admissibility of Expert Evidence
Outcome
Expert accountancy evidence on the meaning of 'turnover' is inadmissible; non-expert opinion evidence from the claimant's director on this issue is also inadmissible, subject to further submissions.
Legal Topics
Interpretation of Contracts, Admissibility of Expert Evidence, Revision of Company Accounts, Definition of Turnover Under Companies Act, FCA Redress Scheme Eligibility
Contract Law Banking Law Company Law Civil Procedure Interpretation of Contracts Admissibility of Expert Evidence Revision of Company Accounts Definition of Turnover Under Companies Act +1 more

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Parties

Change Red Limited

Claimant

Barclays Bank PLC

Defendant

Procedural Posture

Civil (commercial/banking) / Ruling on Case Management Conference (cmc) Regarding Admissibility of Expert Evidence

Legal Issues

  1. 1 Whether the defendant bank was obliged to have regard to the claimant’s revised annual accounts in determining eligibility for FCA review
  2. 2 Whether expert accountancy evidence is admissible on the meaning of 'turnover' in the FCA agreement context

Ratio Decidendi

The meaning of 'turnover' as used in the FCA agreement, which refers to the Companies Act 2006, is a question of law for the court and not a matter for expert accountancy evidence. Therefore, expert evidence on the meaning or calculation of 'turnover' is inadmissible. Consequently, non-expert opinion evidence from the claimant's director on this point is also inadmissible.

Court Disposition

Expert accountancy evidence on the meaning of 'turnover' is inadmissible; non-expert opinion evidence from the claimant's director on this issue is also inadmissible, subject to further submissions.

Orders

  • Permission to adduce expert accountancy evidence refused.
  • Passages of Mr. Klempka’s first witness statement identified for potential striking out, subject to further submissions.