Eiger Funding (PCC) Limited v Ridge And Partners LLP
Ridge owed Eiger a duty of care in contract and tort to advise with reasonable skill and care on project pricing, cost to completion, and risks. Ridge breached this duty by failing to provide proper analysis, failing to highlight significant risks, and not obtaining informed consent for conflict of interest. Eiger relied on Ridge's report in entering the loan agreement, and suffered recoverable loss as the loan contained a significant undisclosed risk of cost overrun. The quantum of loss is the difference between the advised cost to completion and the market benchmarked figure, assessed at £2…
Source excerpt
- Duty of care
- Breach of duty
- Causation
- Loss quantification
- Conflict of interest
- Construction contracts