SENATE ELECTRICAL WHOLESALERS LTD. v. ALCATEL SUBMARINE NETWORKS LTD. (FORMERLY STC SUBMARINE SYSTEMS LTD.)

[1999] 2 Lloyd's Rep. 423

COURT OF APPEAL

Before Lord Justice Stuart-Smith Lord Justice Ward and Lord Justice Hutchison

Contract - Breach - Damages - Assessment - Notice provisions - Defendants sold company to plaintiffs - Maintainable profits less than warranted profits - Plaintiff claimed damages - Assessment of damages - Whether true value of company to be calculated by applying a price/earnings ratio to the difference between warranted profit and actual profit - Whether plaintiffs had complied with notice provision.