Cases - Private Bank & Trust Co Ltd v S (UK) Ltd

Record details

Name

Private Bank & Trust Co Ltd v S (UK) Ltd

Date

[1993]

Citation

1 EGLR 144

Keywords

Negligence in valuations and surveys

Summary

When sued by the claimant lenders for negligence in the valuation of a substantial commercial building, the defendants argued that the valuation had been carried out in especially difficult circumstances, at a time when the commercial property market was showing signs of collapsing into a depression. However, the judge held that this was no reason for reducing the standard of skill and care to be expected from a professional valuer.

The defendants' residual valuation was expressed as a range of between £1.35m and £1.45m. The parties agreed that the valuer was entitled to a further margin of error of 15% around this bracket.