Banque Bruxelles Lambert SA v Eagle Star Insurance Co Ltd and others
Banque Bruxelles Lambert SA v Eagle Star Insurance Co Ltd and others
- 1995
- Estates Gazette (1995) 12 EG 144-156(13) .
CA 20 February 1995. The plaintiff, with others in five associated cases, lent money secured by mortgages on the properties in question. When the mortgagees defaulted each plaintiff obtained possession, but, property values having fallen in the meantime, sold at a loss. Claims of negligence, or breach of duty, were brought against the plaintiffs` professional advisors at first instance, for overvaluation of the land. On appeal it was "held" that damages for losses resulting from falling market values were recoverable by the plaintiffs, given that the defendants` valuations were negligent.
BANQUE BRUXELLS LAMBERT SA V EAGLE STAR INSURANCE CO LTD
BNP MORTAGES LTD V GOADSBY & HARDING LTD
BNP MORTGAGES LTD V KEY SURVEYORS NATIONWIDE LTD
FALLING MARKET
FALLING VALUES
MARKET VALUE
MORTGAGE EXPRESS LTD V BOWERMAN & PARTNERS
NEGLIGENCE
NEGLIGENT VALUATION
NYKREDIT MORTGAGE BANK PLC V EDWARD ERDMAN GROUP LTD
OVER-VALUATION
UNITED BANK OF KUWAIT PLC V PRUDENTIAL PROPERTY SERVICES
VALUERS
CA 20 February 1995. The plaintiff, with others in five associated cases, lent money secured by mortgages on the properties in question. When the mortgagees defaulted each plaintiff obtained possession, but, property values having fallen in the meantime, sold at a loss. Claims of negligence, or breach of duty, were brought against the plaintiffs` professional advisors at first instance, for overvaluation of the land. On appeal it was "held" that damages for losses resulting from falling market values were recoverable by the plaintiffs, given that the defendants` valuations were negligent.
BANQUE BRUXELLS LAMBERT SA V EAGLE STAR INSURANCE CO LTD
BNP MORTAGES LTD V GOADSBY & HARDING LTD
BNP MORTGAGES LTD V KEY SURVEYORS NATIONWIDE LTD
FALLING MARKET
FALLING VALUES
MARKET VALUE
MORTGAGE EXPRESS LTD V BOWERMAN & PARTNERS
NEGLIGENCE
NEGLIGENT VALUATION
NYKREDIT MORTGAGE BANK PLC V EDWARD ERDMAN GROUP LTD
OVER-VALUATION
UNITED BANK OF KUWAIT PLC V PRUDENTIAL PROPERTY SERVICES
VALUERS