The recession of the late 1980s and early 1990s led to a significant amount of property-related litigation. As property prices collapsed and businesses failed, lenders called in loans and sought to enforce their security, and often discovered that the facts were not as they thought they were. In those cases where lenders suffered a shortfall, they looked to recover that shortfall from their solicitors or valuers and the consequent lenders’ litigation continued for much of the ‘90s.
The initial wave of lenders’ claims against solicitors and valuers for negligence was met by various defences. Solicitors claimed the losses suffered by the lenders were not caused by their negligence, and/or that the losses were too remote and/or that t...
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