The wrong valuation method landed a surveying firm with a hefty negligence bill. Property valuers Christie were found liable after they over-valued three seaside gaming arcades by £1 million. Barclays Bank appointed Christie to value three arcades in Great Yarmouth. …read more
Northern Rock brings £100m claim against Eversheds
Northern Rock Asset Management (NRAM) is suing international law firm, Eversheds, in a claim worth £100m. NRAM says it became liable to refund all the charges and interest it had charged to borrowers on loans following negligent advice from Eversheds….read more
IFAs can be liable for execution-only advice
Financial advisers can be deemed to have given advice and be held liable for giving advice – even where they believe that they have clearly stated that they are acting on an execution-only basis. A recent Financial Ombudsman Service (FOS)…read more
Cost of litigation in the spotlight
Detailed assessment of legal costs is required by the courts, even when these are within the overall budget following a recent ruling. The decision will help to keep the cost of litigation under control and will benefit insurers which usually…read more
New protocol to streamline construction and engineering disputes
Construction and engineering disputes may be managed more efficiently in future following the introduction of a revised pre-action protocol. Time limits have been shortened, paperwork simplified and an independent referee introduced. The revised pre-action protocol for construction and engineering disputes…read more
SRA data signals new attempt to reform solicitors’ professional indemnity insurance
The Solicitors Regulation Authority (SRA) has published new claims data as part of its attempt to reform the minimum terms for solicitors’ professional indemnity insurance (PII). It shows that ninety eight per cent of solicitors’ PII claims are settled for…read more
Complaints about agents jump 32 per cent in a year
Complaints about estate agents and letting agents have leapt by 32% over the last year according to The Property Ombudsman’s annual report. The Ombudsman received over 16,000 complaints from the public and resolved more than 3,300, finding against agents in…read more
Cyber-ransom attacks soar says leading insurer
At the same time cyber-attacks on smaller businesses are increasing says a government report. Ransomware attackers hack into a business’s systems and encrypt the data so that it is unusable. It then demands a ransom to provide an encryption key…read more
Suitability reports in the spotlight
Regulators have met with financial advisers’ representatives to develop guidance on suitability reports. The Financial Conduct Authority (FCA) and Financial Ombudsman Service (FOS) have held talks with the Association of Professional Financial Advisers (APFA) and the Personal Finance Society (PFS)….read more
Architecture firm forced to reveal expert witness documents
Professional firms need to take great care in their dealings with expert witnesses in negligence cases or run the risk of handing an advantage to the other side. In a recent construction case one party was forced to hand over…read more
