Society of Lloyd's v Laws & Ors

Society of Lloyd's v Laws & Ors

Mr Drysdale’s recalculated maximum aggregate loss for the 1982 underwriting year is £39,425, which cannot arguably equal or exceed the statutory demand figure of £310,504, even allowing for interest.

Parties
Claimant: The Society of Lloyd’s; Defendant: Eric Nigel Laws and Others; Defendant: Mrs Reisz; Defendant: Mrs Ann Strong
Jurisdiction
England and Wales
Judgment Date
28 January 2004
Procedural Posture
Commercial / Post Judgment Quantum Determination
Outcome
Mr Drysdale’s claim for quantum of loss is insufficient to challenge the statutory demand.
Legal Topics
Quantum of Loss, Statutory Demand, Syndicate Accounting
Commercial Law Quantum of Loss Statutory Demand Syndicate Accounting

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Parties

The Society of Lloyd’s

Claimant

Eric Nigel Laws and Others

Defendant

Mrs Reisz

Defendant

Mrs Ann Strong

Defendant

Procedural Posture

Commercial / Post Judgment Quantum Determination

Legal Issues

  1. 1 quantum of loss suffered by Mr Drysdale for 1982 underwriting year
  2. 2 accuracy of calculations for syndicate losses and profits
  3. 3 whether Mr Drysdale's claim can equal or exceed statutory demand

Ratio Decidendi

Mr Drysdale’s recalculated maximum aggregate loss for the 1982 underwriting year is £39,425, which cannot arguably equal or exceed the statutory demand figure of £310,504, even allowing for interest.

Court Disposition

Mr Drysdale’s claim for quantum of loss is insufficient to challenge the statutory demand.