Assume that it is now two years later. Rural decided to opt for debt finance and took out a loan from Wearside.
The other members of the Group have been very successful, but Woolyback has not.
The market price of tin plummeted shortly after the fundraising and implementation of the Project, and Woolyback is now almost insolvent. Both the Wearside and Tyneside loans are secured against its assets.
To make matters worse, a recent collapse at the mine caused one of the tin miners, Iqra Iqbal, to suffer a serious personal injury whilst she was dashing under a seam of rock. A report from the Health and Safety Executive, which examined the mine after Iqra’s injury, states that the policies applied to mine safety were inadequate to protect
against the collapse. Iqra’s solicitor has acquired copies of correspondence between Rural and Woolyback relating to the matter, an extract of which is set out in Document C.
Your firm acts for Iqra. Your supervising solicitor has asked you to prepare a brief report addressing:
 who might be the potential defendants in relation to Iqra’s personal injury claim (and, where appropriate, who might not); and
 if Iqra is successful in obtaining judgment against any of those defendants, what the prospect is of her being able to successfully enforce an award of damages.
You are not required to consider the merits of the claims themselves beyond the nature of the cause of action.