Gordon & Ors v Ulster Bank Ltd & Ors [2022] NIMaster 5 (28 June 2022)

Gordon & Ors v Ulster Bank Ltd & Ors [2022] NIMaster 5 (28 June 2022)

The claim in negligence against the Financial Conduct Authority is inarguable in law as no duty of care exists; leave to amend to plead negligence is refused. Pleadings regarding corporate plaintiffs are defective and cannot be amended until proper application is made to cure irregularity. Remaining causes of action are deficient but may be curable by amendment; plaintiffs are permitted to serve further amendments subject to defendants' objections.

Citation
[2022] NIMaster 5
Parties
First Plaintiff: Christopher James Gordon; Second Plaintiff: Orianna Investments Limited; Third Plaintiff: Fletcher Gordon Limited; First Defendant: Ulster Bank Limited; Second Defendant: Royal Bank of Scotland PLC; Third to Nineteenth Defendants: Various Named Individuals; Twentieth Defendant: Andrew Baillie; Twenty First Defendant: Prudential Regulation Authority; Twenty Second Defendant: Financial Conduct Authority
Jurisdiction
Northern Ireland
Judgment Date
28 June 2022
Procedural Posture
Application to Strike Out Pleadings / Leave to Amend Statement of Claim / Interlocutory
Outcome
Leave to amend statement of claim to plead negligence against FCA refused; leave to amend regarding corporate plaintiffs refused pending proper application; leave to further amend other causes of action permitted subject to conditions.
Legal Topics
Strike Out Pleadings, Duty of Care, Misfeasance in Public Office, Negligence, Statutory Duties, Human Rights Act, Corporate Capacity to Sue, Amendment of Pleadings
Civil Procedure Banking Law Regulatory Law Tort Law Human Rights Law Strike Out Pleadings Duty of Care Misfeasance in Public Office +5 more

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Parties

Christopher James Gordon

First Plaintiff

Orianna Investments Limited

Second Plaintiff

Fletcher Gordon Limited

Third Plaintiff

Ulster Bank Limited

First Defendant

Royal Bank of Scotland PLC

Second Defendant

Various Named Individuals

Third to Nineteenth Defendants

Andrew Baillie

Twentieth Defendant

Prudential Regulation Authority

Twenty First Defendant

Financial Conduct Authority

Twenty Second Defendant

Procedural Posture

Application to Strike Out Pleadings / Leave to Amend Statement of Claim / Interlocutory

Legal Issues

  1. 1 Whether the amended statement of claim discloses a reasonable cause of action against the regulatory defendants
  2. 2 Whether the pleadings are deficient or inarguable in law
  3. 3 Whether Mr Gordon has capacity to sue on behalf of corporate plaintiffs without leave of court

Ratio Decidendi

The claim in negligence against the Financial Conduct Authority is inarguable in law as no duty of care exists; leave to amend to plead negligence is refused. Pleadings regarding corporate plaintiffs are defective and cannot be amended until proper application is made to cure irregularity. Remaining causes of action are deficient but may be curable by amendment; plaintiffs are permitted to serve further amendments subject to defendants' objections.

Court Disposition

Leave to amend statement of claim to plead negligence against FCA refused; leave to amend regarding corporate plaintiffs refused pending proper application; leave to further amend other causes of action permitted subject to conditions.

Orders

  • Plaintiffs must notify defendants within 28 days if they intend to further amend pleadings.
  • Application to cure irregularity regarding corporate plaintiffs must be issued by 31 August 2022.