Hence the alternative limitation period is the same as in tort — three years from date of knowledge. (newlawjournal.co.uk)
In practice the tougher approach to date of knowledge means more cases where the court is asked to exercise its discretion and to allow the claim to proceed out of time. (newlawjournal.co.uk)
«If the Lender relies on the Latent Damages Act with its long stop provision of 15 years from the date of the advance, insurers are going to argue that the 3 year period for date of knowledge of a claim starts from when a loan first has a potential problem and not from the date of repossession. (irwinmitchell.com)