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 Mr Bampton's accountant, gave investment advice and failed to warn of the deteriorating financial state of FAG, breaching his duty of care and acting deceitfully by encouraging loans without disclosure of risks.

Citation
[2008] EWHC 3662 (QB)
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 Recovery of Loaned Funds / Judgment After Trial
Outcome
Judgment for the claimant
Legal Topics
Negligence of Financial Advisor, Breach of Duty, Deceit, Investment Advice, Recovery of Loans
Professional Negligence Tort Contract Fraud Negligence of Financial Advisor Breach of Duty Deceit Investment Advice +1 more

Case Brief

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Parties

David Bampton

Claimant

Peter Stephen Rust

Defendant

Fordyce Curry & Co

Defendant

Procedural Posture

Civil Claim for Recovery of Loaned Funds / 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 an implied term of retainer or duty at common law
  3. 3 Whether Mr Rust made false and fraudulent representations to Mr Bampton

Ratio Decidendi

Mr Rust, as Mr Bampton's accountant, gave investment advice and failed to warn of the deteriorating financial state of FAG, breaching his duty of care and acting deceitfully by encouraging loans without disclosure of risks.

Court Disposition

Judgment for the claimant

Orders

  • Defendants to pay the sum claimed (£534,213.79) to the claimant