Grant Thornton Ruling May Broaden Advisers' Duty Of Care
By Robin Henry (August 27, 2021, 10:54 AM EDT) -- On June 18, in an important judgment, the U.K. Supreme Court held that Grant Thornton was liable for negligent advice when acting as auditor for the Manchester Building Society.
In Manchester Building Society v. Grant Thornton UK LLP, the Supreme Court examined the extent of the scope of the duty of care required by a professional individual when giving advice. The Supreme Court allowed the building society's appeal. The court significantly reformulated the scope of duty test that applies to professional negligence.
The decision provides guidance on the principles for ascertaining the scope of a defendant's duty of care and has...
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