Damian McPhun

About Damian McPhun

Damian McPhun is the Principal and Founder of Edesia Law.  He has over 25 years’ litigation experience and specialises in defending professional liability claims against financial services, legal and insurance professionals. 

Damian’s experience includes cases dealt with by way of litigation, arbitration (including under the PIA) and under regulatory regimes, including referrals to the Financial Ombudsman Service. He regularly assists firms subject to review or action by regulators, such as the Financial Conduct Authority (FCA), the Solicitors Regulatory Authority (SRA) or accountancy bodies, including the Institute of Chartered Accountants in England & Wales (ICAEW).

Damian is regularly asked to undertake a variety of file audits for professional firms, to assist with their risk management. He also assists insurers with drafting Policy wordings and advises them on all aspects of professional liability policy coverage.

Damian is also experienced in assisting Sponsors and Investment Managers with a range of disputes, as well as the negotiation of key contractual documentation regulating relationships between these parties and fund Authorised Corporate Directors (ACDs).

Examples of cases Damian has handled include:

• A claim against a law firm arising out of its involvement in conveyancing and other aspects of a sale and leaseback scheme for hotel rooms in two luxury hotels (value: approx. £8.7m);
• Multiple claims and FCA investigations against various financial advice firms relating to transfers out of Defined Benefit pension schemes, including the British Steel Pension Scheme;
• A claim by a well-known celebrity nightclub against its Insurance brokers, following Insurers’ declinature of a property damage / BI claim, following alleged non-disclosure and breach of policy conditions (value: approx. £6 million);
• A claim against a large accountancy firm in connection with alleged negligent auditing of accounts and due diligence relating to a business sale (value: approx. £3.2 million);
• A claim by corporate pension fund trustees alleging negligent advice by the fund’s former actuarial and investment advisers (value: approx. £10 million);
• A claim against the third party administrator of a peer to peer lending platform in relation to various failed business loans alleging negligent due diligence and oversight (value: approx. £8.2 million).
• Representing a large number of advice firms in the FSCS litigation relating to Keydata and in claims / regulatory action arising out of various other failed investments, including Arch Cru, Beaufort Securities and, more recently, mini-bonds.
• Acting for fund managers in relation to an FCA investigation into alleged over-pricing of portfolio investments and investing outside of prospectus parameters.
• Assisting a Sponsor and Fund Manager of a number of funds in the renegotiation of terms with the fund ACD.

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