PRIMAVERA v ALLIED DUNBAR ASSURANCE PLC

[2003] Lloyd's Rep PN 14

COURT OF APPEAL

Before Lord Justice Simon Brown, Lord Justice Mance and Lord Justice Latham

Banking and financial services - Damages - claimant advised by defendant on setting up executive retirement plan (“ERP”) to repay loan - defendant gave wrong advice in relation to ERP - claimant unable in 1995 to take tax free lump sum to repay loan because he had not received qualifying salary payments - Whether claimant entitled to loss in value of fund as at 1995 - Whether claimant had to give credit for subsequent increase in value of fund.