This involved a lender seeking to recover from a negligent valuer’s professional indemnity insurer. The Lender claimed that REA valuers in providing a valuation to the Lender used by the Lender for the purposes of granting a loan, acted negligently, was misleading or deceptive in breach of s 52 of the Trade Practices Act and …
This was a decision of the Court of Appeal. There were seven lots of land with demountable homes on them held as part of a community title estate. Interstar loaned thinking they were getting security over the pre-manufactured houses. However the houses were chattels owned by their occupants not fixtures owned by the borrower. Interstar …
PricewaterhouseCoopers Legal v Perpetual Trustees Victoria [2007] NSWCA 271 Read More »
In this case the Plaintiff (La Trobe) loaned on an allegedly negligent valuation by REA Australasia Pty Limited (losing some $230,000). Afterwards the Plaintiff was advised that REA had been “replaced as a trading entity by United Valuations”. La Trobe brought proceedings seeking the re-instatement of REA so that it could seek to recover from …
La Trobe Capital & Mortgage v REA Australasia [2007] NSWSC 652 Read More »
This was a dispute about subpoenas in a valuation matter. The valuer sought to subpoena the records of the parties who previously owned the properties. The decision was that the valuer was allowed to subpoena the owners of the properties where the former owner was a beneficiary of the funds but not the other properties. …
