Lloyds Bank Plc v McBains Cooper

Lloyds Bank Plc v McBains Cooper

McBains Cooper was liable for losses sustained by the Bank after November 2008 because, had it properly advised the Bank of the true financial position and out-of-scope works, the Bank would have terminated the facility and avoided further loss. However, the Bank was one third contributorily negligent for its own losses.

Parties
Claimant: Lloyds Bank plc; Defendant: McBains Cooper
Jurisdiction
England and Wales
Judgment Date
06 October 2016
Procedural Posture
Civil / Judgment After Trial and Further Submissions on Damages
Outcome
Judgment for the Claimant with reduction for contributory negligence and credit for sums already paid
Legal Topics
Project Monitoring Liability, Contributory Negligence, Damages Assessment, Scope of Duty, Causation
Professional Negligence Banking Law Construction Law Project Monitoring Liability Contributory Negligence Damages Assessment Scope of Duty Causation

Case Brief

Summary, issues, holding and outcome

More case intelligence is available

Unlock the full research layer for this judgment.

Full judgment text Downloadable case file Legal principles 3 Authorities cited 1 Party arguments 2 Amounts and remedies 8
Sign in to unlock

Parties

Lloyds Bank plc

Claimant

McBains Cooper

Defendant

Procedural Posture

Civil / Judgment After Trial and Further Submissions on Damages

Legal Issues

  1. 1 Whether McBains Cooper was negligent in its duties as project monitor to Lloyds Bank
  2. 2 Whether Lloyds Bank relied on McBains Cooper's advice and suffered loss as a result
  3. 3 Extent of McBains Cooper's liability for losses sustained by the Bank

Ratio Decidendi

McBains Cooper was liable for losses sustained by the Bank after November 2008 because, had it properly advised the Bank of the true financial position and out-of-scope works, the Bank would have terminated the facility and avoided further loss. However, the Bank was one third contributorily negligent for its own losses.

Court Disposition

Judgment for the Claimant with reduction for contributory negligence and credit for sums already paid

Orders

  • McBains Cooper to pay Lloyds Bank £127,115.95 plus interest at 1.75% per annum from 1 January 2009
  • Interest to be calculated by the parties