Solicitors representing fraudulent property vendors should share responsibility along with those representing the duped buyers for any resulting losses, the Court of Appeal has ruled in a widely awaited decision.
Lord Justice Patten today partially upheld an appeal in Dreamvar v Mishcon de Reya from solicitors of buyers who had transferred thousands of pounds to fraudsters posing as property owners. The court ordered both firms involved, Mishcons and national firm Mary Monson Solicitors, to make financial contributions.
In the same appeal, following P&P Property Limited v Owen White & Carlin LLP, vendors’ solicitors were also held liable for their fraudulent client and ordered to repay the money buyers had paid.
Read the full Law Society Gazette article here