The Weekly Law Reports
[2010] 3 WLR 1266
Court of Appeal
Parabola Investments Ltd and another v Browallia Cal Ltd (formerly Union Cal Ltd) and others
[2010] EWCA Civ 486
2010 March 10,
11,
12;
May 5
May 5
Mummery, Toulson, Rimer LJJ
Damages— Deceit— Measure of damages— Claimant trading stocks and shares through defendant stockbrokers— Trading resulting in disastrous losses concealed by defendant falsely representing to claimant that trading profitable— Claimant’s investment fund much depleted before fraud discovered— Claimant thereafter trading profitably with reduced fund— Claimant bringing action in deceit— Whether entitled to damages for lost opportunity to trade with unreduced fund during period from discovery of fraud up to date of trial— Whether discovery of fraud marking cut-off point for damages claim