How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Ash Your Own Question
Ash
Ash, Solicitor
Category: Law
Satisfied Customers: 10916
Experience:  Solicitor with 5+ years experience
75100385
Type Your Law Question Here...
Ash is online now

I invested money [£10,000] in company called Oil in 2013 ;

Customer Question

I invested money [£10,000] in company called Green Oil in 2013 ; the company went into liquidation eighteen months later and enquiries have revealed that investors were misled .
In my case I invested in large part because the prospectus stated that a Manchester firm of solicitors had carried out due diligence . I contacted the solicitors to establish the nature and extent of their " due diligence " . They refuse to respond on the grounds that their contract or relationship was with the company .
Am I right in thinking that as an investor in the company I am entitled to the information . ?.
Submitted: 1 year ago.
Category: Law
Expert:  Ash replied 1 year ago.

Hello my name is ***** ***** I will help you.

Do you believe that they were negligent please?
Alex

Customer: replied 1 year ago.
Please may have a response to my question ?
Expert:  Ash replied 1 year ago.

Yes I asked if you believe they were negligent. Dependant on the response which would dictate my answer.

Customer: replied 1 year ago.
Alex , I don't know what you mean by " dependant on the response which would dictate my answer ": I think , for what it is worth , that they probably were negligent but I can't establish that until I see the information they gave to Green Oil and the point of my question is can they refuse to let me have the relevant information even though I was an investor in Green Oil . ? Thank you .
Expert:  Ash replied 1 year ago.

Ok - if it is for the purpose of contemplated litigation then they cant refuse to disclose it.

It is a document or documents required under Part 31 of the Civil Procedure Rules.

If you write and highlight this, ask for copy documents or say you will go to Court within 1 days and make an application if they refuse.

If they continue to refuse then you can make an application to Court that they are ordered to disclose the documents.

You would need to complete form N244:

http://s3-eu-west-1.amazonaws.com/hmctsformfinder/n244-eng.pdf

The Court would list the matter and decide whether to order disclosure

Can I clarify anything for you about this today please?
Alex

Customer: replied 1 year ago.
Thank you Alex , that is very clear .Daniel .
Expert:  Ash replied 1 year ago.

If I could invite you to rate my answer before you go today please, otherwise the site does not credit me for the time spent with you today. Thanks and good luck. Alex

Ash and other Law Specialists are ready to help you
Customer: replied 1 year ago.
Alex . again thank you for your responses in which you say that they must disclose documents -- " if it is for the purpose of contemplated litigation " , can this mean litigation involving them or a third party for whom they have acted ? .
However my original question concerned the refusal of solicitors to provide information because they had acted for an organisation or company and not for me but as an investor in that company i feel that i am entitled to that information . Is this correct .
I cannot see where to put my rating ? . Daniel .
Expert:  Ash replied 1 year ago.

Documents which you need and seek for purposes of litigation

Does that clarify? Alex