An Appeal Court challenge is being mounted by former law firm Simpson Curtis over a High Court decision which left it facing a £1m damages bill for breach of duty. On 28 May this year, Mr Justice Park held the firm liable for losses incurred after the collapse of a 1989 property deal. Simpson Curtis was sued by Twenty Two A Property Investments which instructed the firm to oversee a deal worth £1.6m. This was dependent on another contract under which the freehold owners of the site were to sell a development company. However, the initial sale contract was not completed and Twenty Two A only realised £668,000 for the option. Mr Justice Park was satisfied Simpson Curtis had failed to adequately discharge its duties leading to Twenty Two A's losses.
Norton Rose advised Helical Bar on the £18m sale of 8-10 Mansion House Place, EC4 to the British Arab Commercial Bank. (The buyer intends to occupy the building by the end of January 2000.) Jonathan Ody, property partner at Norton Rose, led the team on the deal, with property partner David Sinclair and construction partner […]