Log in or register
Share on LinkedInShare on LinkedIn

ARTICLE · 21 JANUARY 2013

Insurance Update - ‘No Transaction’ Damages In Professional Negligence Cases

Matheson
Explore more from Matheson

A number of recent High Court decisions have involved cases in which lenders have taken action against their former legal advisors for negligence.

IrelandInsurance
Sharon Daly
Sharon Daly
Darren Maher
Darren Maher
Valerie Shaw
Valerie Shaw
Author LinkedIn connections

Introduction

A number of recent High Court decisions have involved cases in which lenders have taken action against their former legal advisors for negligence.

These 'no transaction' cases involve lenders claiming that deals would not have proceeded except for the professional advice given.

The Irish courts, following a similar line to UK authorities, have confirmed that the correct approach to assessment of damages in these cases is to determine whether the negligent act resulted in the transaction occurring.  If it did, then all loss associated with entering into the transaction will be recoverable; if it did not, then it is only the loss arising from the negligent act itself that will be recoverable. 

We operate a free-to-view policy, asking only that you register in order to read all of our content. Please login or register to view the rest of this article.

Register for freeORLog in

Related Articles

Legal Intelligence Newsletters: sign up for the latest legal and regulatory news on your chosen topics

Read more about

Related Comparative Guides

See more popular content from

Article

Central Bank Publishes First Intermediary Newsletter Of 2026

The Central Bank of Ireland has published its first Investment Firm and Intermediary Newsletter for 2026, revealing critical regulatory updates and supervisory priorities for Irish (re)insurance intermediaries. The newsletter addresses sector mapping initiatives, commission disclosure practices, complaints handling procedures, and significant changes to intermediary authorisation requirements that firms must navigate.
IrelandInsurance
William Fry LLP
William Fry LLP
Article

Solvency II Reform: Key Changes

The Solvency II Directive has undergone comprehensive reform through Directive EU 2025/2, introducing significant changes across capital requirements, reporting obligations, and supervisory frameworks. These amendments shift the regime toward a more proportionate and risk-sensitive approach while maintaining policyholder protection. With Member States required to transpose these changes by January 2027, insurers and reinsurers must prepare for new rules on proportionality, enhanced governance requirements,
IrelandInsurance
William Fry LLP
William Fry LLP
Article

Insurance Quarterly Legal And Regulatory Update: 1 January 2026 – 31 March 2026

This quarterly update examines critical regulatory developments affecting the insurance sector from October to December 2025, including ESG stress testing guidelines, private equity supervision frameworks, and the advancement of the Savings and Investments Union. The document analyzes EIOPA's strategic priorities through 2030, implementation of the Insurance Recovery and Resolution Directive, and evolving AML/CFT requirements under the new AMLA framework.
IrelandInsurance
Dillon Eustace
Dillon Eustace
Article

Warranty And Indemnity Insurance: A Strategic Tool In Irish M&A

Warranty and indemnity insurance has evolved from a niche product to a standard feature in Irish M&A transactions, fundamentally changing how parties allocate risk in private deals. As insurers expand coverage into emerging areas like cyber risk and ESG disclosures, understanding how this insurance works and when to deploy it has become essential for both buyers and sellers navigating competitive deal processes.
IrelandInsurance
William Fry LLP
William Fry LLP