The WLR Daily case summaries
[2017] WLR (D) 257
Supreme Court
Swynson Ltd v Lowick Rose LLP (formerly Hurst Morrison Thomson LLP) (in liquidation)
[2017] UKSC 32
2016 Nov 21, 22, 23, 24; 2017 April 11
Lord Neuberger of Abbotsbury PSC, Lord Mance, Lord Clark of Stone-cum-Ebony, Lord Sumption, Lord Hodge JJSC
Damages— Assessment— Avoided loss— Accountants giving negligent advice in due diligence report— Lender making three substantial loans in reliance on advice— Borrower defaulting— Lender’s action against accountants for damages for breach of contract— Lender’s owner subsequently giving borrower refinancing loan thus enabling repayment to lender of first two loans— Whether repayment collateral matter— Whether lender suffering loss as result of breach— Whether principle of transferred loss applicable— Whether accountants unjustly enriched giving rise to equitable subrogation— Whether damages to be reduced to reflect repayment