Eradicating the knotweed: “Reflective loss” is cut down to size. Marex Financial v Sevilleja  UKSC 31
15 Jul 2020
Mark Hubbard, Amit Karia and Jon Colclough consider what practitioners on and offshore need to know following the Supreme Court’s important decision in Marex.
In a long-anticipated judgment Lord Reed has led a 7 strong panel in unanimously allowing Marex’s appeal, radically cutting back the scope of the “rule against reflective loss”, which he described as “one of the most important and difficult questions of law to come before the Supreme Court for some time”.
All commercial and trust litigators, on and offshore, need to understand this decision and its implications for current and future damages claims in contract, tort, breach of trust or fiduciary duty and beyond.
We summarise the old and new law below, and point out some of its practical implications.
To read the full article, please click here.