Bampton v Rust & Anor [2008] EWHC 3662 (QB) (31 July 2008)

Bampton v Rust & Anor [2008] EWHC 3662 (QB) (31 July 2008)

Mr Rust, as accountant and adviser, owed a duty of care to Mr Bampton. He breached that duty by failing to warn of FAG's deteriorating financial state and by encouraging loans when it was imprudent. Mr Rust also made representations amounting to deceit. Judgment is for Mr Bampton for the sum claimed.

Citation
[2008] EWHC 3662
Parties
Claimant: David Bampton; Defendant: Peter Stephen Rust; Defendant: Fordyce Curry & Co
Jurisdiction
England and Wales
Judgment Date
31 July 2008
Procedural Posture
Civil Claim for Negligence and Deceit / Final Judgment After Trial
Outcome
Judgment for the claimant
Legal Topics
Accountant's Duty of Care, Investment Advice, Breach of Fiduciary Duty, Misrepresentation, Deceit
Professional Negligence Fraud Contract Law Accountant's Duty of Care Investment Advice Breach of Fiduciary Duty Misrepresentation Deceit

Case Brief

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Parties

David Bampton

Claimant

Peter Stephen Rust

Defendant

Fordyce Curry & Co

Defendant

Procedural Posture

Civil Claim for Negligence and Deceit / Final Judgment After Trial

Legal Issues

  1. 1 Did Mr Rust and Fordyce Curry owe a duty of care to Mr Bampton regarding investment advice?
  2. 2 Did Mr Rust breach that duty by failing to warn of FAG's financial state?
  3. 3 Did Mr Rust make false or fraudulent representations to Mr Bampton?

Ratio Decidendi

Mr Rust, as accountant and adviser, owed a duty of care to Mr Bampton. He breached that duty by failing to warn of FAG's deteriorating financial state and by encouraging loans when it was imprudent. Mr Rust also made representations amounting to deceit. Judgment is for Mr Bampton for the sum claimed.

Court Disposition

Judgment for the claimant

Orders

  • Defendants to pay £534,213.79 to claimant