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What I can't work out is how the due diligence failed so spectacularly. Everyone in the PI industry - and even those who aren't, such as myself - knew that the writing was on the wall, and that PI claims were going to be far less profitable.

Likewise, the sad attempt to make deafness the new whiplash was always doomed to fail.

So how on earth did this escape the attention of the no doubt very highly paid City types who advised on the purchase of Quindell? Could it be that they were so far removed from the grubby business of PI that all these developments had simply not registered on their radar?