10 May, 2023
Centenary 6 Ltd v TLT LLP  CSOH 28
The pursuer awarded c.£12.5m by way of damages for the loss of a chance of success in an underlying litigation. The Defenders, TLT Solicitors, had admitted negligence by failing to give proper advice to the client regarding an order for caution for expenses, leading to the dismissal of the underlying claim.
Lord Ericht, in assessing the loss of a chance, had to consider the chances in the underlying claim which depended upon not only the negligence of a liquidator of a wholly owned subsidiary of the Pursuers, but the dynamics of a settlement of a large claim in the English High Court which was the source of the funds comprising the claim. It was alleged, in short, that in distributing the proceeds of the English case, the liquidator over-paid a particular creditor. Had he correctly distributed the proceeds, there would have been a surplus to the pursuer company as shareholder.
The judge affirmed how to approach loss of chance cases when professional negligence was at play, assessing the chance of success at 65%.
Pursuers were represented by: Andrew Smith KC of Compass Chambers and Tim Young, Advocate of Ampersand.
Opinion of Lord Ericht can be found here.