In this month’s legal updates, Sophie Brookes of Gately Legal considers whether a company’s accountants owed a duty of care to a shareholder, company restoration and CIGA 2020
Case: do accountants owe duty of care to shareholder?
The High Court has found that accountants retained by a company to advise on a demerger were not liable to a shareholder of the company in connection with that demerger.
The facts
Carmela de Sena & Meltor Developments Ltd v Joseph Notaro & ors [2020] EWHC 1031 (Ch) involved a family company, S Notaro Holdings Limited (Notaro) of which a brother and sister were directors and principal shareholders.
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