Damian P Molyneux

Director

Damian P Molyneux

Damian P Molyneux

Director

Tel

+44 (0)1624 695800

Email

dpm@mplegal.im

General

1995

University of Teeside Bachelor of Law LL.B (Hons)

1996

Chester College of Law – Post Graduate Diploma in Legal Practice

2000

Chartered Insurance Institute – Certificate of Financial Planning

2007

Advocate Isle of Man

2017

Income Tax Commissioner (Arbitrating Income Tax Disputes)

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Memberships

Chairman of Young Lawyers Association 2007
Isle of Man Young Lawyers Association 2006


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Legal directory endorsements

'Specialises in defending claims brought against medical professionals or institutions both by direct instruction or via insurers.'

Legal 500 (2018 edition)

"very good at reassuring clients during difficult times - his calm character hides his determination and drive to ensure the best outcome for his clients"

Legal 500 - UK (2017 edition)

'Client focussed and commercially minded'

Legal 500 - UK (2016 edition)

a member of the firm's litigation practice and has experience in advising on financial sector and funds claims.

"Chambers Global (2013 edition)

The "very proactive" Damian Molyneux enjoys growing visibility in the market and is recognised as "an up-and-coming advocate".

"Chambers (2012 edition)

Ranked in the category of "Dispute Resolution" as being "very proactive" and recognised as "one of the up-and-coming advocates on the Island".

Chambers Europe (2012 edition)

Ranked in the category of "Associates to Watch".

Chambers Europe (2011 edition)

Historic legal directory endorsements


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Articles and publications

Brave New World - Enforcement of Judgments - May 2020
Desperate Times - Careful Measures - April 2020
Hello Pension, Goodbye Tension? - M&P Review 2019
Insolvency Issues - A Manx Perspective - M&P Review 2018
Cart Before The Horse - How to obtain early evidence in litigation - M&P Review 2018
Security For Costs - Second bites of the cherry - M&P Review 2018
International Law Office: Winding up of debtor companies - April 2010
Strike out on non pre-emptory order - May 2009
Non recovery of UK solicitor costs in IOM actions - February 2009
M&P Review: Cast off those bad debts in 2010 - December 2009
Strike out possible even where unless order - May 2009
Manx debt recovery: When, Where and How - November 2007
Published locally in press


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Significant cases

Negligent Financial Advice:

Beechwood (BIL v Another):

Claim for negligent advice involving analysis of what constitutes low risk investments, spread of investments (risk), causation and damages quantum. Successfully settled at mediation.

Turnstone (Trustee client v IFA):

Claim for negligent investment advice where a high risk investment had been in place prior to appointment of a new advisor who was retained to provide advice to the trust with a low risk outlook. Issues re existing investments and whether advice extended to same. Issues re quantum. Beddoes orders. Successfully settled at mediation.

J v A Bank:

A claim for misrepresentation and negligent investment advice of a bank which had invested £1m for a client in an investment which had lost a significant amount of money. Successfully settled at mediation.

Petition of Friends Provident Limited:

Insurance contracts and negligent investment advice. The policyholder of the petitioner had, upon advice of a third party financial advisor, effected a savings policy using qualifying funds from various pension policies. There was no suggestion of wrongdoing on the part of the policyholder. It was not possible to transfer benefits back to the originating schemes. The court ordered that benefits could be transferred to another qualifying scheme set up for the benefit of the policyholder.

Lalude v RL360

Preliminary point – whether life company could rely on Defence available under statute that it had obtained a valid discharge of liability in circumstances where it had made payments from a policy under a fraudulently gained grant of probate.

Significant Other:

Advised in a number of disputes involving provision of negligent investment advice, in respect of which previous 10 years' experience in the financial sector, including time spent as an Independent Financial Adviser, proved invaluable. Cases included:

  • Claims following advice to invest in guaranteed and/or protected funds; and
  • Claims in respect of experienced investor funds; and
  • Inappropriate fact find processes
  • Inappropriate categorisation of client risk profile resulting in unsuitable investments; and
  • Investment companies failure to spot pattern of IFA trading suggestive of churning resulting in losses to client; and
  • Failure of investment/life company to act on client instructions to remove ability of IFA to make trades on his behalf;
  • Liability of a life company to client following its encashment of a policy due to a fraud perpetrated by third parties (failure to follow own procedures/local regulations); and
  • Advice as to implantation and interpretation of local regulations governing financial services.

Historic cases


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Languages

English