Helmsley Acceptances Ltd v Hampton

Helmsley Acceptances Ltd v Hampton

The claimants have an arguable case that Helmsley can recover the syndicate members' losses either as trustee or under the Albazero exception, and the matter should proceed to trial rather than be disposed of by summary judgment.

Source-derived case information.

Parties
Appellant: Helmsley Acceptances Ltd; Respondent: Lambert Smith Hampton
Jurisdiction
England and Wales
Judgment Date
11 March 2010
Procedural Posture
Civil Appeal / Appeal From Summary Judgment
Outcome
appeal allowed
Legal Topics
Lender's Standing to Sue Valuer, Syndicated Loans, Trusts and Assignment of Claims, Albazero Exception, Duty of Care to Third Parties
Contract Law Tort Law Trust Law Lender's Standing to Sue Valuer Syndicated Loans Trusts and Assignment of Claims Albazero Exception Duty of Care to Third Parties

Source-derived case record

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Parties

Helmsley Acceptances Ltd

Appellant

Lambert Smith Hampton

Respondent

Procedural Posture

Civil Appeal / Appeal From Summary Judgment

Legal Issues

  1. 1 Whether a lender who has syndicated a loan can sue a valuer for the full loss after negligent valuation
  2. 2 Whether the lender can recover losses suffered by syndicate members
  3. 3 Whether the lender acts as trustee for the syndicate members' claims

Ratio Decidendi

The claimants have an arguable case that Helmsley can recover the syndicate members' losses either as trustee or under the Albazero exception, and the matter should proceed to trial rather than be disposed of by summary judgment.

Court Disposition

appeal allowed

Orders

  • summary judgment set aside
  • case to proceed to trial