QFC 0014/2021, [2023] QIC (F) 41

Amberberg Limited and Prime Financial Solutions LLC v Thomas Fewtrell, Nigel Perera and Louise Kidd

This was a quantum case involving a breach of a warranty in a share purchase agreement for a financial services company.The liability had not been disclosed as warranted. There was later a breach on required asset value of the company which led to the regulator suspending their licence, causing serious financial difficulties and left the shares losing value. Issues included the legal point of whether events after the breach could be considered, and the method for calculating the loss.

Background