Uncertainty about property valuations during the COVID-19 pandemic has led the Royal Institution of Chartered Surveyors (RICS) to reissue its valuation guidance to firms. Originally issued as a ‘valuation practice alert’ at the start of the pandemic, RICS has now…read more
Court rules accountant had no duty of care to shareholder. Published November 2020
A property-owner has failed in her bid to have the demerger of the family business overturned after she accused the company’s accountant of breach of fiduciary duty and professional negligence. Six years later Carmela brought an action to have…read more
Carillion fails in bid to inspect KPMG’s audit papers. Published November 2020
The liquidator of former construction giant Carillion, which spectacularly collapsed in 2018, has failed to persuade the court to order KPMG to disclose its audit working papers. After Carillion went into liquidation with reported debts of £1.5 trillion, questions…read more
Insurers must be allowed to cancel PII policies for non-payment says IUA. Published November 2020
The International Underwriting Association (IUA) has warned the legal profession that professional indemnity insurance may become unsustainable if insurers are not allowed to cancel policies for the non-payment of premiums. In an unprecedented open letter to the profession, the IUA…read more
Deliberate concealment restarts the clock on limitation defence. Published November 2020
Deliberately hiding incriminating facts can overturn the original position on a limitation defence. If the defendant deliberately hides relevant facts, the limitation clock only starts once the concealment is revealed the courts have confirmed. In 2015, RG Securities bought a…read more
