Parabola Investments Ltd v Browallia Cal Ltd (formerly Union Cal Ltd)

Subject Matter

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

[2009] EWHC 901 (Comm); [2009] 2 All ER (Comm) 589, QBD

[2010] EWCA Civ 486; [2011] QB 477; [2010] 3 WLR 1266; [2010] Bus LR 1446; [2011] 1 All ER (Comm) 210; [2010] WLR (D) 114, CA

Appellate History