Wills & Trusts Law Reports | November 2012 #124Mr Gallarotti (G) and Mr Sebastianelli (S) had been friends since 1988. They moved to London to make their careers and habitually rented flats together, both contributing towards the outgoings. In 1997 they took the step of buying a flat (the flat) together, although it was transferred into S’s sole name. The total cost was £188,287.44. S contributed £86,500 and G contributed £26,896.20. The remainder was met by a mortgage taken out by S and against which G agreed to postpone any interest he might have.
No written agreement existed to establish an express declaration of trus...
David Robinson reviews a recent case on an accountant’s duties of care to third-party investors in an existing client In Arrowhead Capital Finance Ltd (in Liquidation) v KPMG LLP [2012], the High Court has provided clarification on an accountant’s duty of care to investors in one of its clients that will be welcomed by both …
Continue reading "Conduct: Call of Duty II"
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