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|COMMENTS: Court of Appeal redefines the "But-for" causation test for negligence|
|Tuesday, 06 September 2016|
|Following the landmark judgement in the Tiuta International Ltd v De Villiers Surveyors Ltd, which has proven to be one of the most important recent court rulings for the lending industry, Seema Kavi, the Director of Quivira Capital, comments: “This case is a win for lenders in an area of law that has been notoriously tricky and contentious. For us, the results are a reassurance for lenders, such as ourselves and those relying on valuations for their business. The original High Court judgement had unnecessarily left lenders without recourse to recover from negligent surveyors in re-finance situations. Yet with that said, it is not all celebrations for lenders, or borrowers for that matter- this judgement is bound to impact a valuer’s decision-making process. If a valuer is concerned about the accusations of negligence and having to make good a lender’s losses, there is a risk that they will drop their valuations, resulting in lenders offering lower sums and borrowers receiving less in their hand. Although it is too soon to see an impact, it is certainly an area that we should be monitoring closely.”|
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