In tort, quantifying the extent of financial loss is a complex task for the courts. In this week’s NLJ, Ian Gascoigne, dispute resolution solicitor at LexisNexis, looks at the role played by the judge in such a case, considering caselaw and the many factors that must be taken into account.
How do you balance all these elements in order to determine objectively the types of loss that would foreseeably be anticipated at the time? The task is especially difficult when the judge must take a financial downturn into account.
Gascoigne writes: ‘It may seem unfair for a wrongdoer to be liable for events caused by their breach but attributable to forces beyond their control. This becomes acute when the victim’s loss is increased by their poor financial position or the movement of financial markets.’
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