Causation in valuers’ negligence claims: Reliance on earlier valuations

In a decision which will be of interest to financial institutions and valuers, the Supreme Court has overturned a decision of the Court of Appeal and found in favour of the Defendant valuer in a professional negligence claim. In Tiuta International Ltd (in liquidation) v De Villiers Surveyors Ltd [2017] UKSC 77, the Supreme Court held … Read more

Privy Council: No duty of care owed by a lender to disclose lending policies

A recent judgment handed down by the Privy Council is likely to have wide application to mis-selling claims generally: Deslauriers and another (Appellants) v Guardian Asset Management Limited (Respondent) (Trinidad and Tobago) [2017] UKPC 34. In this decision, the Privy Council has confirmed that in a commercial relationship between experienced lenders and borrowers, the lender will not ordinarily … Read more

Court of Appeal confirms no tortious duty of care owed to customers in connection with the FCA past business review

Over the past two years, the courts have grappled with the novel claimant argument that financial institutions owe duties of care in tort directly to their customers in connection with their conduct of the past business review of interest rate hedging product sales announced by the FCA (then FSA) in 2012 (the “Review“). There have been a number … Read more