Successful defence of Investment Introducer sued for professional negligence

Stephanie Wookey, instructed by Rachael MacIntyre of MacIntyre Law, appeared for the Defendant in McHale v Dunlop [2024] P.N.L.R 26. The matter was highly contentious and protracted. Although the breach of fiduciary duty claim succeeded in respect of the undisclosed element of the commissions received by the Defendant, the central claim for £320,000 plus interest, for alleged negligent financial advice to invest pensions into an alleged unregulated collective investment scheme, was dismissed. The Claimant’s recoverable costs were reduced by 20% to reflect this. The Claimant’s claims for breach of statutory duty under the Financial Services and Markets Act 2000 (“FSMA”), breach of contract and negligent misstatement were discontinued prior to trial, after the Claimant’s application to amend its claim was unsuccessful (Jacob Gifford Head represented the Defendant at the application hearing in Ms Wookey’s absence). The account of profit proceedings are ongoing.