21 May 2009
HALL & ORS V FP NORTH LIMITED (IN LIQUIDATION) & ANOR HC NWP CIV 2008-443-000324
- Citation
- openlaw-26d340f6_2918_4cbc_ba87_59e12cd5fb1e.pdf
- Court
- High Court
The insolvency exclusion and the investment advisers endorsement are scope‑of‑cover clauses specifying kinds of loss (insolvency/depreciation in investment value) not indemnified; s 11 does not apply to such clauses, and even if it did the plaintiffs' loss is causally linked to insolvency/depreciation so it would not be saved; accordingly there is no arguable case that QBE is liable and leave to join QBE is refused.