11 November 2015
In the case of David T Morrison & Co Ltd v ICL Plastics Ltd, the Supreme Court ruled that the prescriptive clock starts ticking when a creditor becomes aware of the occurrence of loss, regardless of whether that loss was known to have been cause by negligence. In the recent case of Heather Capital LLP v Burness Paull & Williamson LLP, in one of only a handful of decisions since ICL, the Court of Session considered the application of section 6(4) and section 11(3) of the Prescription and Limitation (Scotland) Act 1973.
For further info please see the eUpdate What is required to postpone the start of the prescriptive clock in a post-ICL Plastics era? on our blog.