Source: All England Reporter
Publisher Citation: [2012] All ER (D) 109 (Oct)
Neutral Citation: [2012] EWHC 2708 (Admin)
Court: Queen's Bench Division, Administrative Court (London)
Judge:

Haddon-Cave J

Representation Mark Cannon QC and Can Yeginsu (instructed by Manley Turnbull Solicitors) for the claimant.
  Andreas Gledhill (instructed by SNR Denton UK LLP) for the FSCS.
Judgment Dates: 11 October 2012

Catchwords

Financial services - Financial Services Authority (FSA) - Regulation of financial services - Claimant re-mortgaging home and using balance to invest in Spanish property following financial advice - Claimant suffering loss following crash in Spanish property market - Claimant unable to use returns from Spanish investment to service mortgage as advised - Defendant calculating compensation payable - Defendant finding compensation unavailable in respect of losses stemming directly from Spanish property purchase - Whether defendant erring in approach to calculating compensation.

The Case

Financial services Financial Services Authority (FSA). The Administrative Court allowed an application for judicial review by a mortgagee who had received negligent financial advice. It found that the Financial Services Compensation Scheme had misdirected itself and acted irrationally in awarding only 11,522.98 by way of compensation for her losses.

Practice Areas

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