WILLIS MANAGEMENT (ISLE OF MAN) LTD v CABLE AND WIRELESS PLC

[2005] 2 Lloyd's Rep. 597

COURT OF APPEAL

Before Lord Justice Tuckey, Lord Justice Rix and Mr Justice Wilson

Existence of contract - Damages sought by claimants on the basis of fraud and breach of fiduciary duty in respect of diverted insurance premiums - Negotiations between the parties taking place after proceedings issued - Letter sent by claimant asking whether defendant accepted responsibility for the fraud - Letter signed and returned by defendant but with caveat - Whether binding agreement concluded between parties.