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Articles | Thu 14th Dec, 2017
In a tightly drawn 15 paragraph judgment, delivered last week, Lord Sumption
overturned the decision of Moore Bick LJ in the Court of Appeal, and restored the
first instance decision of Timothy Fancourt QC, sitting as a Deputy High
Court judge. The judgment gives valuable guidance on the correct application of the
“but for” test in professional negligence claims by lenders against valuers where
there has been re-financing of the original lending transaction. It has decided a point
of principle concerning the quantum of damages.