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Changes to the liability landscape

Nick Bird and Laura Stocks consider the impact on solicitors of a number of recent decisions, including a Supreme Court case revisiting SAAMCo

15 May 2017

On 22 March 2017 the Supreme Court handed down its long awaited decision on the application of SAAMCo to claims against professionals in BPE Solicitors and another v Hughes-Holland [2017] UKSC 21.

The claim concerned advice given by solicitors to a wealthy businessman in respect of a loan to an individual borrower. The transaction was unviable from the outset and the claimant lost all of his money. The judge at first instance held that the solicitor was negligent in drawing up the facility letter and in failing to advise that the loan was going to be used for site acquisition expenses rather than developing the property. The claimant would not have entered into the transaction had he been aware of this and he was awarded the whole of the loss he sustained as a result of entering into the transaction.

The Court of Appeal overturned the judgment on loss and ...

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