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On appeal from: [2015] EWCA Civ 629

This appeal considered whether the Court of Appeal erred in law in holding that a lender could recover damages from its negligent adviser representing loans that had been repaid by the borrower, on the basis that the borrower’s repayments were collateral to (or res inter alios acta) the adviser’s breach of contract. The Supreme Court unanimously allowed the defendant adviser’s appeal, holding that in the instant case the repayments were not collateral to the breach as they were distinct transactions. As such the Court of Appeal had erred in law. It was also the case that there was no unjust enrichment of the defendant as the refinancing transaction was not defective.

For judgment, please download: [2017] UKSC 32
For Court’s press summary, please download: Court’s Press Summary
For a non-PDF version of the judgment, please visit: BAILII

To watch the hearing, please visit: Supreme Court Website (21 Nov 2016 morning session) (21 Nov 2016 afternoon session) (22 Nov 2016 morning session) (22 Nov 2016 afternoon session) (23 Nov 2016 morning session) (23 Nov 2016 afternoon session) (24 Nov 2016 morning session)