Bampton v Rust & Anor

Bampton v Rust & Anor

Mr Rust, as Mr Bampton's accountant, gave investment advice and recommended loans to FAG UK at a time when he knew or ought to have known that FAG UK was in serious financial difficulty. He failed to warn Mr Bampton of the risks and breached his duty of care. The evidence also established deceit. Judgment is for Mr Bampton for the sum claimed.

Parties
Claimant: David Bampton; Defendant: Peter Stephen Rust; Defendant: Fordyce Curry & Co
Jurisdiction
England and Wales
Judgment Date
31 July 2008
Procedural Posture
Civil / Judgment After Trial
Outcome
Judgment for the claimant
Legal Topics
Negligence of Accountants, Breach of Duty, Deceit, Investment Advice Liability
Professional Negligence Tort Contract Negligence of Accountants Breach of Duty Deceit Investment Advice Liability

Case Brief

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Parties

David Bampton

Claimant

Peter Stephen Rust

Defendant

Fordyce Curry & Co

Defendant

Procedural Posture

Civil / Judgment After Trial

Legal Issues

  1. 1 Whether Mr Rust gave negligent or dishonest investment advice to Mr Bampton
  2. 2 Whether Mr Rust breached a duty of care or was guilty of deceit in relation to the loans advanced to FAG UK
  3. 3 Whether Mr Bampton is entitled to recover the sums advanced from the Defendants

Ratio Decidendi

Mr Rust, as Mr Bampton's accountant, gave investment advice and recommended loans to FAG UK at a time when he knew or ought to have known that FAG UK was in serious financial difficulty. He failed to warn Mr Bampton of the risks and breached his duty of care. The evidence also established deceit. Judgment is for Mr Bampton for the sum claimed.

Court Disposition

Judgment for the claimant

Orders

  • Defendants to pay the sum claimed by Mr Bampton