The law of unintended consequences? Professional liability for fall in property value
In a case that will have professionals looking over their shoulders, the Court of Appeal has held that an engineer who caused a delay in completion of a development project was liable for damages caused by a fall in the market value of the property.
The Court of Appeal’s decision in John Grimes Partnership Limited v Gubbins is likely to lead to an increase in the number of claims against professionals where damages are sought for falls in property value. The potential scale of these losses, compared with other heads of claim, means claimants have every incentive to pursue such claims if at all possible.
For those who thought SAAMCO meant that falls in property values were not recoverable, the Court of Appeal made clear its view that SAAMCO was concerned with liability for negligent valuation and was of little assistance in the latest case, which involved liability for losses caused by the professional’s delay in breach of contract…
If you are registered and logged in to the site, click on the link below to read the rest of the Walker Morris briefing. If not, please register or sign in with your details below.
Sign in or Register to continue reading this article
It's quick, easy and free!
It takes just 5 minutes to register. Answer a few simple questions and once completed you’ll have instant access.Register now
Why register to The Lawyer
In-depth, expert analysis into the stories behind the headlines from our leading team of journalists.
Identify the major players and business opportunities within a particular region through our series of free, special reports.
Receive your pick of The Lawyer's daily and weekly email newsletters, tailored by practice area, region and job function.
More relevant to you
To continue providing the best analysis, insight and news across the legal market we are collecting some information about who you are, what you do and where you work to improve The Lawyer and make it more relevant to you.
News from Walker Morris
News from The Lawyer
Briefings from Walker Morris
The FBI ’Darkode’ arrests are just the tip of the iceberg. This briefing highlights risks to you in five key areas.
Consultation on tax relief reform likely to lead to heated debate.
Analysis from The Lawyer
Which firms are cutting it in this era of slimline rosters, and who are the GC new brooms making clean sweeps? The Lawyer can reveal all
The law school war shows no signs of ending. But we have, perhaps, reached the end of the beginning.