Charles Russell faces major payout in negligence claim loss
Charles Russell could have to pay out as much as £1m in two related negligence claims after providing defective advice to a pension scheme. In a judgment handed down last month (13 May) by Justice Warren in the Royal Courts of Justice, Charles Russell was found to have given negligent advice in relation to the Snell & Wilcox Pension Plan.
June 01, 2010 at 12:50 AM
2 minute read
Charles Russell could have to pay out as much as £1m in two related negligence claims after providing defective advice to a pension scheme.
In a judgment handed down last month (13 May) by Justice Warren in the Royal Courts of Justice, Charles Russell was found to have given negligent advice in relation to the Snell & Wilcox Pension Plan.
The two claims were brought in 2008 and 2009 by David Alfred Youlton, one of the trustees of the scheme. The first case was brought by Youlton in a personal capacity, while the second was filed by Youlton on behalf of the trustees.
Justice Warren found that the firm "owed a duty of care to both Youlton and to the trustees and [Charles Russell was] in breach of those duties".
Damages are still to be assessed but the claimants are believed to be looking to secure at least £1m in damages.
Barlow Lyde & Gilbert commercial litigation head Neil Jamieson was instructed to advise Charles Russell, with 4 New Square's Ben Hubble QC instructed as counsel. Trethowans Solicitors' Southampton-based head of litigation Richard Cook led the team advising Youlton, with 4 New Square's Hugh Evans instructed as counsel.
A spokesperson for Charles Russell commented: "The case was defended with the full backing of our insurers and their lawyers, so we are disappointed with the decision."
In April, Edwin Coe was sued for breach of contract and negligence in a claim reportedly worth over £11m, while Linklaters is defending a long-running $55m (£37m) claim brought by former telecoms client Levicom.
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