SAAMCO principle lets solicitors off the hook
01 February 2011
The Court of Appeal has overturned an order requiring Norwegian solicitors Wikborg Rein & Co to pay more than £26 million in damages to Depfa ACS Bank in respect of negligent legal advice. The Court of Appeal's decision is the latest application of the SAAMCO principle, developed by the House of Lords to exclude professionals' liability for losses not strictly caused by their negligence.
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