The UK High Court has recently awarded 9 million pounds against the UK Companies Office (the UK equivalent of ASIC) in relation to that office making a one letter typo which erroneously identified a 124 year old company employing 250 people as being in liquidation.

The Companies Office had intended to give notice that “Taylor & Son Ltd” had been placed into liquidation.  But instead an extra “s” wound up going into the database, naming the company in liquidation as “Taylor & Sons Ltd”.

Credit reporting agencies spread the error far and wide and within a matter of weeks 3,000 suppliers had terminated agreements with Taylor & Sons Ltd and that company was placed into administration shortly afterwards.

This error had never occurred at the Companies Office before, presumably, as his Honour Judge Edis said,”because it was easy to avoid.”

A copy of the decision is available here.

For more information please contact Daren Anderson.