Blemain Finance Ltd v E.Surv Ltd
E. Surv's valuation of £3.4 million was negligent as it was outside the reasonable margin of error and not supported by proper methodology or comparables; Blemain relied on this negligent valuation to make the loan, and the allegations of contributory negligence failed because E. Surv could not show that no reasonable lender would have made the loan in the circumstances.
- Parties
- Claimant: Blemain Finance Limited; Defendant: E. Surv Limited
- Jurisdiction
- England and Wales
- Judgment Date
- 20 December 2012
- Procedural Posture
- Civil / Judgment After Trial
- Outcome
- Claim allowed; contributory negligence defence dismissed
- Legal Topics
- Professional Negligence, Valuation Negligence, Contributory Negligence, Lending Policy, Duty of Care
Case Brief
Summary, issues, holding and outcome
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Parties
Blemain Finance Limited
Claimant
E. Surv Limited
Defendant
Procedural Posture
Civil / Judgment After Trial
Legal Issues
- 1 Whether E. Surv was negligent in its valuation of the property for Blemain
- 2 Whether Blemain was contributorily negligent in making the loan to the Shermans
Ratio Decidendi
E. Surv's valuation of £3.4 million was negligent as it was outside the reasonable margin of error and not supported by proper methodology or comparables; Blemain relied on this negligent valuation to make the loan, and the allegations of contributory negligence failed because E. Surv could not show that no reasonable lender would have made the loan in the circumstances.
Court Disposition
Claim allowed; contributory negligence defence dismissed
Orders
- Judgment for Blemain Finance Limited for £301,194.89 in damages
- Interest to be agreed by parties
Full Case Text
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