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Professional negligence

RUBENSTEIN v HSBC BANK PLC

Having found that a bank had given an investor negligent investment advice, which he had relied on, a judge had erred in concluding that the loss suffered by the investor on his capital was not caused by that negligence but by unprecedented market turmoil, and therefore unforeseeable and too remote to award more than nominal damages in contract. The investor’s loss of capital from market movements was foreseeable, and a danger he had specifically wanted to guard against.

PLATFORM FUNDING v MILLER PARRIS SOLICITORS

Summary judgment on the issues of breach of contract and breach of duty was granted in a claim for damages brought by a mortgage lender against a firm of solicitors which had failed to report a restrictive covenant that might reasonably be expected to be material in the sense of adversely affecting the value of the property and its future marketability. Permission to defend on whether any loss was caused by the breach and the extent of that loss was granted.

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