JUDGMENT
Introduction
[1] This is a claim for professional negligence brought by the plaintiff against the defendants. At all material times, the defendants were partners in the law firm of Messrs Raslan Loong ("MRL"). MRL had been engaged by the plaintiff to advise and act on her behalf in relation to an investment scheme in the United Kingdom.
[2] The core issue in this action is whether the defendants, acting through the 1st defendant, breached their duty of care owed to the plaintiff. The alleged breach pertains to the failure to advise the plaintiff on several critical aspects of the investment scheme. The investment has since failed.
[3] These included the risk that the scheme might be classified as an unregulated collective investment scheme ("CIS") under the English Financial Services and Markets Act 2000 ("FSMA"), the legal enforceability of the guarantees said to secure the promised returns and the true legal character and associated risks of the contracts the plaintiff was induced to enter into.
Brief Background Of Facts
[4] The plaintiff is a Malaysian citizen and a retiree. In the year 2016, she became interested in participating in an investment scheme involving residential units located in a student accommodation development known as the Scholar's Village ("Investment Scheme"). The development was situated along the Great Horton Road in Bradford, United Kingdom.
[5] The Investment Scheme was marketed to the plaintiff by an individual named Delia Yip ("Delia"). Delia acted as an agent for a property marketing company known as CSI Prop International Properties ("CSI Properties"). The promotional materials presented to the plaintiff described the Investment Scheme as offering fixed rental returns of between 8% and 10% per annum over a ten-year period. The purchase price for each residential unit was set at £46,950.00. The investment was further portrayed as a "hassle-free income" entailing "no involvement in property management" and featuring a "fully flexible resale option."