Trowers & Hamlins has been instructed by the All Party Parliamentary Group on Fair Business Banking (the "APPG") to intervene in the upcoming Supreme Court hearing Marex Financial Ltd (Appellant) v Garcia (Respondent) (UKSC 2018/0172) ("Marex"), taking place on 8 May 2019.
The APPG is one of the most prominent APPGs within Parliament, with 124 members from the House of Commons and the House of Lords representing all the major parties. It is currently co-chaired by Kevin Hollinrake MP (Con) and the Rt Hon. Norman Lamb MP (Lib Dem).
The APPG's intervention is aimed at ensuring that the Supreme Court takes into account the APPG's evidence and experience when considering the public policy underpinning the 'rule against reflective loss', which is at issue in Marex.
Kevin Hollinrake MP, the APPG's Co-Chair, states:
"The APPG have substantial evidence of small business owners suffering serious difficulties pursuing claims after their business' insolvencies. The APPG firmly believes the rule against reflective loss should be applied in a more flexible way in order to ameliorate these problems."
Ned Beale, a litigation and arbitration partner in Trowers leading the legal team for intervention, comments:
"It is unprecedented for the APPG or, as far as we are aware, any all party parliamentary group, to intervene in litigation. However, the difficulties that the rule against reflective loss causes business owners and victims of fraud are serious and widespread. The Marex appeal is a unique opportunity to shape the law to address them."
Ned Beale and Rebecca Lawrence of Trowers' London commercial disputes team are acting for the APPG, instructing Peter Knox QC, Richard Samuel and Chloe Shuffrey of 3 Hare Court and Simon Reevell and Amit Karia of Thomas More Chambers.