‘There was “no proper justification” for a claimant seeking to reopen an issue based on the circulation of a draft judgment, the High Court has ruled.’
Litigation Futures, 13th January 2015
Source: www.litigationfutures.com
‘On 30 June 2014 judgment was handed down by Mrs Justice Rose in Swynson Limited v Lowick Rose LLP (in liquidation) [2014] EWHC 2085 (Ch). Rose J held that the Defendant, a firm of accountants, were liable but found that they owed no duty of care to the individual investor who had provided finance for a management buy-out. She awarded damages up to the liability cap of £15million inclusive of interest and costs, on the basis that the liability cap set out in the engagement letter reflected the commercial agreement reached by the parties.’
RPC Professional and Financial Risks Blog, 4th December 2014
Source: www.rpc.co.uk
‘A former Virgin Atlantic pilot has been jailed for 14 years for committing a £30m mortgage fraud in Berkshire.’
BBC News, 14th October 2014
Source: www.bbc.co.uk
‘A former Virgin Atlantic pilot who blew a fortune on the gaming tables of Las Vegas has been jailed for 14-years after being convicted of orchestrating an audacious £30 million mortgage fraud.’
Full story
Daily Telegraph, 13th October 2014
Source: www.telegraph.co.uk
‘Tesco says it has been notified by the Financial Conduct Authority (FCA) that it is under investigation following its admission last week that it overstated its half-year profit guidance by £250m.’
BBC News, 1st October 2014
Source: www.bbc.co.uk
‘The Legal Ombudsman (LeO) has introduced a policy for dealing with complaints about organisations which provide non-legal as well as legal services, such as some alternative business structures (ABSs) and, shortly, accountants who offer probate advice.’
Legal Futures, 19th September 2014
Source: www.legalfutures.co.uk
‘The Law Society’s freedom of information adjudicator has rejected a bid to open up public access to accountant’s reports submitted to the Solicitors Regulation Authority.’
Legal Futures, 20th August 2014
Source: www.legalfutures.co.uk
‘Mirriam Clark is jailed after building up a property empire in England and Zambia and sending her children to private school with stolen money.’
Full story
Daily Telegraph, 7th July 2014
Source: www.telegraph.co.uk
‘Professional negligence cases frequently deal with claims that arise after an insolvency occurs. During a recent 11 SB insolvency seminar, Lexa Hilliard QC focused on problems that can arise for accountants and solicitors prior to a company entering into a formal insolvency process. This is an area that has attracted little attention but it can be full of pitfalls that we professionals ignore at our peril. In
this ‘Insider’ she summarises herthoughts on what is becoming a very topical issue.’
11 Stone Buildings, December 2013
Source: www.11sb.com
“Deloitte, one of the UK’s largest accountancy firms, has been fined a record-breaking £14m for a conflict of interest that occurred when it advised MG Rover Group and the Phoenix Four directors who bought the British carmaker before it collapsed.”
The Guardian, 9th September 2013
Source: www.guardian.co.uk
“Britain’s largest companies should put their accounting business up for tender every five years, the Competition Commission has said, as part of an investigation into the dominance of the big four accountancy groups.”
The Guardian, 22nd July 2013
Source: www.guardian.co.uk
“The concept of fairness embodied in the different strands of natural justice have to be seen as flexible and as not requiring the courts to lay down over rigid rules, so that where it had been agreed that a tribunal member could be temporarily absent for part of the hearing, there had been no breach of the rules of natural justice.”
UK Human Rights Blog, 5th June 2013
Source: www.ukhumanrightsblog.com
“A Crown Prosecution Service accountant who fiddled £1 million of taxi fares has been warned that she faces a lengthy jail sentence after admitting fraud.”
Daily Telegraph, 15th March 2013
Source: www.telegraph.co.uk
“In R (on the application of Prudential Plc and another) v Special Commissioner of Income Tax and another [2013] UKSC 1 a majority of the Supreme Court held that legal advice privilege does not extend to protect legal advice given by professionals who are not lawyers and that it is for Parliament, not the courts, to decide whether and how the privilege should be extended.”
Hardwicke Chambers, 19th February 2013
“The fight to defend legal professional privilege looks set to continue, despite last week’s landmark victory for the profession in the Supreme Court. Parliament was urged to consider extending the scope of LPP in the wake of the judgment by the 140,000-member Institute of Chartered Accountants in England and Wales.”
Law Society’s Gazette, 28th January 2013
Source: www.lawgazette.co.uk
“Legal advice privilege would not be extended to communications in connection with advice given by professional people other than members of the legal profession, even where that advice was legal advice which the professional person was qualified to give.”
WLR Daily, 23rd January 2013
Source: www.iclr.co.uk
“The Supreme Court has ruled that legal advice privilege should only apply to advice given by a member of the legal profession; that this is what the common law has always meant, and that any wider interpretation would lead to uncertainty. Two strong dissents do not find any principled underpinning for the restriction of the privilege to advice from solicitors or barristers.”
UK Human Rights Blog, 24th January 2013
Source: www.ukhumanrightsblog.com
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