Contract
Rocker v Full Circle Asset Management [2017] EWHC 2999 (QB), [2017] All ER (D) 198 (Nov)
The defendant had acted in breach of mandate over nine monthly periods, as the actual risk profile of the claimant’s portfolio had exceeded that agreed. The Queen’s Bench Division further held that the defendant had also breached its contractual obligation to operate a stop loss policy under which it was required automatically sell any investment if that investment made a loss of 5%.
Costs—Security for costs
Premier Motorauctions Ltd (in liquidation) and another v Pricewaterhousecoopers LLP and another [2017] EWCA Civ 1872, [2017] All ER (D) 197 (Nov)
After the event insurance could, in principle, be taken into account in determining an application for security of costs if it gave a defendant sufficient protection. However, the Court of Appeal, Civil Division, held that, on the facts, the defendants did not have the assurance that the insurance had not been liable to be avoided for misrepresentation or non-disclosure and ordered the claimants to provide security of £4m.
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