In the recent case of Rubenstein v. HSBC Bank plc the High Court found that HSBC had mis-sold a life insurance bond to an investor. The investor lost approximately £180,000 of his capital following the onset of the financial crisis in the autumn of 2008.
The Court decided that the loss suffered by the investor as a consequence of the financial crisis was not reasonably foreseeable and was therefore not recoverable in damages as against HSBC Bank. However, watch this space because leave to appeal has been granted.
For advice on suing financial institutions or intermediaries who you believe might have mis-sold you a financial product please contact Nick Lambert on 0114 266 6660 or email [email protected]
