Commercial Court clarifies law on audit negligence
January 31 2019Mr Justice Bryan in the Commercial Court has today handed down a wide-ranging judgment in AssetCo plc v Grant Thornton UK LLP [2019] EWHC 150 (Comm). Following a 12 day hearing in June and July 2018, the judgment runs to some 1274 paragraphs. The claim arose out of the admitted negligence of Grant Thornton in relation to audits of the financial statement of AssetCo plc in 2009 and 2010. AssetCo claimed...
Court of Appeal addresses the application of SAAMCO in the context of audit negligence
January 31 2019The Court of Appeal has today unanimously dismissed an appeal by Manchester Building Society against a judgment of Teare J holding that the Society’s former auditor, Grant Thornton, was not liable for mark-to-market losses incurred by the Society in relation to various long-term swaps. The proceedings arose out of hedge accounting advice provided to the Society by its auditor which was admitted...
One Essex Court sponsors Financial Services Regulation & Disputes Summit
January 28 2019One Essex Court is proud to be a Panel Sponsor of the inaugural Legal Business Financial Services Regulation & Disputes Summit, taking place on 7 February 2019 in London. Sonia Tolaney QC and Daniel Toledano QC will be leading a panel session, and David Wolfson QC will be participating in a separate session, covering topics including, “Financial Services Disputes: Where do we go from here?”...
The Lawyer Top 20 Cases of 2019
January 21 2019One Essex Court is delighted that 10 members of chambers are instructed in cases which feature in The Lawyer’s recently published Top 20 Cases of 2019. In March, Laurence Rabinowitz QC, Conall Patton and Emma Jones will form part of the counsel team representing Hewlett Packard/Autonomy in the largest fraud claim ever levelled at individuals in the English courts. The proceedings brought against...
