Mr Lorcan Treacy

Lorcan Treacy

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Litigation

Company barred from recovering same loss as subsidiaries
Hong Kong | 30 October 2018

In a cautionary tale, a group company and its current liquidators have had their claim against the group company's former liquidators struck out under the 'no reflective loss' principle. The strike-out was granted on the basis that the group company's subsidiaries had a closer nexus to the relevant loss than the group company. The appeal judgment demonstrates that the courts will not shy away from dismissing defective claims against professional advisers without trial.