QFC 0071/2023, [2024] QIC (F) 16

Amberberg Limited vs Prime Financial Solutions LLC and others

The original dispute involved a claim by an investor in a company who had been damaged as a result of a breach of duty of care which had led to that company being unable to provide financial services worldwide. This case was a request for a summary dismissal of action by a defendant who was the professional indemnity insurance provider for the first defendant. There was also a disclosure request about the policy made against them. Key points were that the insurer had not committed a breach of duty of care as had the other defendants. In addition claims against the policy could only be made by policy holder and not a third party.

Background