What’s the damage? Court of Appeal guidance on quantifying loss and collateral benefits

In this case, the claim against a firm of accountants succeeded even though a loan which was based on their negligent due diligence report had been repaid. The unsuccessful argument used against the claimant was that the refinancing repaid the old loans and extinguished any loss suffered as a result of the accountants' negligence. Whilst this case rests heavily on its facts the judgment explains the rules as to what benefits a claimant has to give credit for when calculating its loss.