The Claimants brought an action against the Defendant, the Secretary of State for Education, for negligence and misfeasance in public office, relating to the actions of the Skills Funding Agency (‘SFA’), for which the Defendant is responsible. The Claimants alleged that the acts of SFA prevented them from selling their business for around £27 million, plus a lost chance of converting around £10 million in rollover loan notes.

The Defendant issued an application to revoke the Claimants’ permission to rely upon their forensic accounting expert evidence, because it had become clear that one of the Claimants, who was a trained accountant, had had significant secret involvement in the preparation of the expert’s report and the Joint Statement.

The claimant brought an action against two of its founding shareholders, and companies owned or controlled by them, seeking compensation for harm caused by their alleged participation in a fraudulent scheme. The forensic accounting expert for the first defendant failed to inform the court, until shortly before he gave evidence, that he had ceased to hold a key professional membership.  

JSC Commercial Bank Privatbank v Igor Valeryevich Kolomoisky & Ors [2025] EWHC 1987 (Ch)

The judge found that the forensic accounting expert’s approach of forming an opinion as to the value of the Company, then carrying out a detailed calculation and only if it matches his initial opinion accepting it, undermined the credibility and reliability of his opinion as to the value of the Company.