Arbuthnot Pensions & Investments Ltd v Padden [2004] All ER (D) 165 (May) CA

Arbuthnot Pensions & Investments Ltd v Padden

Date:

31 December 2004

In Arbuthnot Pensions & Investments Ltd v Padden [2004] All ER (D) 165 (May) CA, the Court of Appeal held that a judge was entitled to make a declaration that the respondent should be indemnified by Mr Padden against any liability that it might have incurred to a client in circumstances where Mr Padden had failed to invest the client's money as agreed and had used it for his own purposes. The Court of Appeal also upheld an award of damages equivalent to the commission that the respondent would have earned had the agreed investments been made.