Conflict of interests leads to fine
By Nicola Laver
A solicitor has been fined £8,000 after acting for both parties on the sale at an undervalue to a convicted fraudster
A solicitor has been fined £8,000 and ordered to pay £4,000 costs after acting for both parties on the sale at an undervalue of an elderly woman’s home to her partner, a convicted fraudster. Maxine Madderson, formerly a partner at Maddersons Solicitors, advised the 78-year-old seller and 34-year-old buyer on the sale of the property for £70,000 – a significant undervalue. The high court ruled that Madderson acted despite a "clear conflict of interest" and set the transaction aside on grounds of undue influence. Maxine Madderson, formerly a partner at Maddersons Solicitors, advised the 78-year-old seller and 34-year-old buyer on the sale of the property for £70,000 – a significant undervalue. The high court ruled that Madderson acted despite a "clear conflict of interest" and set the transaction aside on grounds of undue influence.