The plaintiff and defendant, both financial advisors, entered into a partnership agreement.
The defendant's licence was later suspended for misconduct.
The plaintiff sued the defendant for return of moneys, and the defendant counterclaimed.
The plaintiff then issued a third party claim for contribution and indemnity against their former employers, alleging they knew of the defendant's misconduct.
The third parties moved for summary judgment, arguing the claim was statute-barred under s. 18 of the Limitations Act, 2002.
The court granted the motion, holding that s. 18 creates an absolute two-year limitation period for contribution and indemnity claims that is not subject to discoverability principles.
Even if discoverability applied, the plaintiff had discovered the claim before the limitation period expired.