An assignment of causes of action by the Official Trustee in Bankruptcy to a former bankrupt does not retrospectively validate proceedings commenced by the bankrupt before the assignment was effected; the action remains fatally defective from the outset. A shareholder's claim for diminution in share value caused by professional negligence advice given to the company is irrecoverable reflective loss. A proposed amendment to add a claim for breach of fiduciary duty (alleging the solicitor allowed its own financial interest to influence its advice) does not arise out of substantially the same facts as existing claims for breach of contractual and tortious duties of care.
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