||All England Reporter
|| All ER (D) 54 (Oct)
|| EWCA Civ 1327
||Court of Appeal, Civil Division
Simon Brown, Mance and Latham LJJ
||Edward Bannister QC and James Gibbons (instructed by John Welch & Stammers) for
||Jeremy Stuart-Smith QC and Daniel Crowley (instructed by Wragge & Co) for the defendant.
||4 October 2002
Damages - Measure of damages - Negligence - Professional advice - Pension plan - Claimant unable to withdraw lump sum from pension plan due to negligent advice - Value of pension plan increasing - Claimant seeking damages for loss incurred - Whether loss to be offset against increased value of pension.
Where a claimant had been negligently advised regarding the need to arrange sufficient Schedule E income to sustain an executive retirement plan he was entitled to receive damages representing the difference between the amount that should have been available tax free in the fund and the value of the fund as at the date he wished to take advantage of it. That was so even though by servicing the loan himself for a further five years he had made a substantial gain. However, he was not entitled to recover damages for moneys expended in servicing that loan because that involved double counting.
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