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Practice – Procedure. The Chancery Division dismissed the defendants' application for summary judgment on a claim by investors of a Jersey Trust, which alleged that the defendants were liable for the loss of the entire value of their investment due to a breach of duty to take all reasonable care to ensure that facts stated in an information memorandum (IM), given to potential investors, were true and accurate. Even if the court was required to apply settled law and identify the direct consequences of the valuation being inaccurate, the claimants had real prospects of establishing that the loss they had suffered on their investment was attributable to the alleged inadequacies in the IM and, accordingly, the case should go to trial.
Practice – Procedure. The Chancery Division dismissed the defendants' application for summary judgment on a claim by investors of a Jersey Trust, which alleged that the defendants were liable for the loss of the entire value of their investment due to a breach of duty to take all reasonable care to ensure that facts stated in an information memorandum (IM), given to potential investors, were true and accurate. Even if the court was required to apply settled law and identify the direct consequences of the valuation being inaccurate, the claimants had real prospects of establishing that the loss they had suffered on their investment was attributable to the alleged inadequacies in the IM and, accordingly, the case should go to trial.
Chair of the Bar reports back
Marie Law, Director of Toxicology at AlphaBiolabs
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