CL-2018-000297, CL-2018-000404, CL-2018-000590, - [2025] EWHC 2364 (Comm)

SKAT’s alternative submission, against each of the DWF Ds, was an argument that “In any event, [he] made certain admissions as to the content of the Core Representations in their full form”. However, the making of some admissions as to some of the content of the core representations is no concession that the defendant in question understood and intended at the time that those representations, as pleaded, would be or were being made. As the DWF Ds submitted in writing for closing, this was a case in which language and its use mattered. So for example, given the terms of the tax ownership representation pleaded, it takes SKAT nowhere to have elicited (so it submitted) an admission from Mr Horn that an SCP CAN “was making a statement about the number of shares held by the [named client] in SCP’s custody account”.