M - Manifest error
22/2/18
AMEY BIRMINGHAM HIGHWAYS LTD v BIRMINGHAM CIRTY COUNCIL [2018] EWCA Civ 264
Manifest error is “one that is obvious or easily demonstrable without extensive investigation” (following IIG v Van Der Merwe, 2008) [83] and the court can have regard to extrinsic evidence (following IG Index v Colley, 2013).
7/3/13
IG INDEX PLC v COLLEY [2013] EWHC 478 (QB)
An employee of a spread-betting company was liable for breach of fiduciary duty and fraud for dishonestly manipulating the company’s trading prices to enable clients to place spread bets at artificially low prices so as to make unjustified profits. Certain of the clients were liable for dishonestly assisting him and for fraud. Fraudulent conduct does not necessarily require there to have been a misrepresentation. Here accounts were used by the clients as a vehicle for defrauding the company. The bets were also void by reason of a provision in the company’s terms allowing it to avoid bets for manifest error. An error resulting from fraud could be a manifest error.