RCS - Anexo Group PLC - Successful Supreme Court Appeal

AnexoAnnouncement

16/02/2024 07:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20240216:nRSP3428Da&default-theme=true

RNS Number : 3428D  Anexo Group PLC  16 February 2024

 For immediate release  16 February 2024

RNS Reach

Anexo Group plc

 

('Anexo', the 'Group' or the 'Company')

 

Successful Supreme Court Appeal

 

Anexo (AIM: ANX), the specialist integrated credit hire and legal services
provider, is pleased to announce a victory in the Supreme Court which sets an
important precedent concerning the recovery of contractual liabilities,
remoteness and the burden of proof.

 

The case (Armstead v RSA) directly concerned whether the victim of a non-fault
traffic accident is able to recover from the negligent driver's insurance
company any contractual liability which the victim owes the hire company; in
this case the hire charges which were forfeited by the hire company while the
vehicle was being repaired. On a broader scale, the ruling covers any
situation where a claimant seeks to recover contractual liability to a third
party.

 

In the original hearing and in two subsequent appeals, the Courts had found
that such liabilities were not recoverable. The Supreme Court held that each
of these Courts was wrong in their reasoning and conclusion.

 

The ruling establishes the principle that a claimant can recover any
liabilities incurred as a result of an accident which may be owed to a third
party. In order to be reasonable, the liability needs to be reasonably
foreseeable; in this instance, a pre-estimate of the loss to the hire company.

 

In a judgment which will have wider implications, the Supreme Court held that
the burden of proof in such cases falls on the defendant. In common with other
defences which seek to reduce a claimant's recoverable losses (e.g.
intervening cause, failure to mitigate, contributory negligence or scope of
duty), it is now confirmed that it is for the defendant to prove that any loss
is too remote to be recoverable.

 

Alan Sellers, Executive Chairman of Anexo Group, commented: "We are very
pleased to announce this Supreme Court decision. It establishes that our
clients, as claimants, can recover other liabilities to third parties which
are caused by the at fault defendant; and further rules that the burden of
proof lies with the defendant. The success of this appeal to the highest Court
in the land marks a major milestone in the history of credit hire litigation
and the ruling will reinforce our ability to represent the interests of our
clients in all aspects of their claims."

 

-Ends-

 

For further enquiries:

 Anexo Group plc                                         +44 (0) 151 227 3008

                                                         www.anexo-group.com (http://www.anexo-group.com)
 Alan Sellers, Executive Chairman

 Mark Bringloe, Interim Chief Financial Officer

 Nick Dashwood Brown, Head of Investor Relations
 WH Ireland Limited

 (Nominated Adviser & Joint Broker)
 Hugh Morgan / Chris Hardie / Darshan Patel (Corporate)    +44 (0) 20 7220 1666

 Fraser Marshall / Harry Ansell (Broking)                www.whirelandplc.com/capital-markets
                                                         (https://url.avanan.click/v2/___https:/eu-west
                                                         -1.protection.sophos.com?d=whirelandplc.com&u=aHR0cDovL3d3dy53aGlyZWxhbmRwbGMuY29tL2NhcGl0YWwtbWFya2V0cw==&i=NWNkOTc2NmM5OWJhMjAxMDhmN2IyYzQ1&t=SXVCMnArbXpCUWFUR3hiN0dhVjR5Q3d4VDNrTGVJc1JZVXNxWVRpbE8zcz0=&h=0482e68813aa4f569a47aab5cdad04d1___.YXAxZTp3aGlyZWxhbmRwbGMyOmE6bzpjYjY3ZDZhNTE1ZmUwZTA0Zjg3MDFkYTJhYTAxZGMyNDo2OmU0NjA6M2ViNTgwYzkxMmM5NTFlMzUyMzM1ODhlNzcyOGFhMjZhNjI0OTkzOGRkOTkzZjQ5NTUzNjFjYzE5N2UwYTBkNzpoOlQ)

 Zeus

 (Joint Broker)                                          +44 (0) 20 3829 5000

 David Foreman / Louisa Waddell (Investment Banking)     w (http://www.arden-partners.co.uk) ww.zeuscapital.co.uk

                                                       (http://www.arden-partners.co.uk)
 Simon Johnson (Corporate Broking)

 

Notes to Editors:

 

Anexo is a specialist integrated credit hire and legal services provider. The
Group has created a unique business model by combining a direct capture Credit
Hire business with a wholly owned Legal Services firm. The integrated business
targets the impecunious not at fault motorist, referring to those who do not
have the financial means or access to a replacement vehicle.

 

Through its dedicated Credit Hire sales team and network of over 1,100 active
introducers around the UK, Anexo provides customers with an end-to-end service
including the provision of Credit Hire vehicles, assistance with repair and
recovery, and claims management services. The Group's Legal Services division,
Bond Turner, provides the legal support to maximise the recovery of costs
through settlement or court action as well as the processing of any associated
personal injury claim.

 

The Group was admitted to trading on AIM in June 2018 with the ticker ANX.

 

For additional information please visit: www.anexo-group.com
(http://www.anexo-group.com) . To subscribe to our investor alert service and
receive all press releases, financial results and other key shareholder
messages as soon as they become available, please visit:
https://www.anexo-group.com/content/investors/alert.asp
(https://www.anexo-group.com/content/investors/alert.asp) .

 

 

This information is provided by Reach, the non-regulatory press release distribution service of RNS, part of the London Stock Exchange. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  NRABLGDDIXBDGSU