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Limitation of actions – Prescription. Court of Session: Granting decree of absolvitor in an action in which a company in liquidation sued a firm of solicitors for damages for loss caused by facilitation of fraud, averring that it had instructed the defenders to act in relation to proposed loans to four Gibraltar companies and that £7.3m had been paid out of the defenders' client account to third parties and not to the four companies, the court rejected the defenders' contention that the pursuer had failed relevantly to aver circumstances in which it had sustained any loss as a consequence of anything they had done, but held that the pursuer had failed to aver and prove circumstances entitling it to protection from prescription under s 6(4) or s 11(3) of the Prescription and Limitation (Scotland) Act 1973.
Limitation of actions – Prescription. Court of Session: Granting decree of absolvitor in an action in which a company in liquidation sued a firm of solicitors for damages for loss caused by facilitation of fraud, averring that it had instructed the defenders to act in relation to proposed loans to four Gibraltar companies and that £7.3m had been paid out of the defenders' client account to third parties and not to the four companies, the court rejected the defenders' contention that the pursuer had failed relevantly to aver circumstances in which it had sustained any loss as a consequence of anything they had done, but held that the pursuer had failed to aver and prove circumstances entitling it to protection from prescription under s 6(4) or s 11(3) of the Prescription and Limitation (Scotland) Act 1973.
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