Last week, the Court of Appeal gave its eagerly awaited judgment in a combined appeal involving two much-discussed cases: Dreamvar (UK) Ltd v Mishcon de Reya and P&P Property Ltd v Owen White & Catlin LLP.
Each raised important questions over who should be held liable to victims of conveyancing fraud, as both involved a fraudulent “seller” making off with a would-be purchaser’s funds.
In the latest episode of On the Case, Owen Talfan Davies, partner at Fieldfisher, analyses what he describes as an “eminently sensible judgment, which removes the uncertainty created by the earlier decisions in the first instances cases, and ensures that victims of fraud can now recover their losses – which in these and other cases have been significant.”
Talfan Davies explains why it’s a ruling that has significant ramifications for all members of the legal profession, and how the decision will affect all transactions (whether property related or otherwise), dissecting the court’s findings on where liability should lie – and what they mean for conveyancing solicitors going forward.
To send feedback, e-mail jess.harrold@egi.co.uk or tweet @jessharrold or @estatesgazette
