Evans Dodd solicitors and Transview Properties today settled a professional negligence claim brought by Transview over its purchase of a substantial commercial block in North London.
The parties settled the case on confidential terms on the first day of a scheduled trial in the action, which involved Transview’s purchase of 13-storey Northway House, 1379 High Road, Whetstone, London N20, for £13.5m in December 2004.
Transview had issued its professional negligence claim in 2010 against the solicitors, who acted for it during the purchase.
In earlier proceedings, Transview and the seller, property tycoon Louis Goodman’s City Site Properties, clashed in a dispute regarding an overage provision in the agreement.
Under the provision, City Site was to receive 50% of any increase in the property’s value either on resale or the obtaining of planning permission for the residential development of the property, but Transview claimed that a further clause, which provided that the overage would not be payable in certain circumstances, had been removed by City Site without Transview’s knowledge.
However, dismissing Transview’s claim for rectification of the agreement in 2008, Briggs J held that there was “no intention by either party, at the time of its execution, that the sale agreement should contain an overage abatement clause”.
His ruling was upheld by the Court of Appeal in 2009.
Transview Properties Ltd v Evans Dodd Solicitors Chancery (Judge Pelling) 19 February 2013
Joanna Smith (instructed by carter Ruck) for the claimant
Ben Hubble QC (instructed by Mayer Brown International) for the defendant
