Description
Investment Advice. Springwell alleged that as a result of poor investment advice from Chase, their investment portfolio had declined by some US$280 million. Springwell allege that Chase knew that they intended to use the profits on the portfolio to expand and refurbish their related shipping fleet. As a result of the poor investment advice Springwell claim they could only purchase 2 rather than 20 additional vessels and sought a claim for loss of profits as well. Whilst care would need to be taken in ensuring there was no overlap, the claim would not be struck out on the basis of double recovery.