Our Lee Silk and Jack Plummer were recently successful in securing a confidential settlement for our client based in the British Virgin Islands (BVI). Curzon Green acted on the basis of a Conditional Fee Agreement (“no win, no fee”) for the BVI company’s claim for professional negligence against a well-known firm of conveyancing solicitors.
The BVI company specialised in the purchase and letting of residential property. In the summer of 2015, the BVI company instructed conveyancing solicitors to assist in the purchase of several off-plan buy-to-let properties in the midlands. The properties were being developed as part of a large Grade-II listed building and took several years to construct. An agreement was reached between the BVI company and the developer for termination on one of the several properties. At that time and without any instruction, notice of termination was served on all the properties by the conveyancing solicitors unbeknownst to the BVI company. That led to the BVI company suffering extensive capital and rental losses on the properties.
Curzon Green initially assisted in securing the return of the deposit monies for the properties from the developer. Following that, extensive correspondence was exchanged with representatives for the professional indemnity insurer of the conveyancing firm, as liability was heavily contested. Proceedings were issued in the High Court and were stayed pending a widespread disclosure exercise and to allow for ADR. A security for costs application was necessarily avoided by obtaining ATE insurance for the BVI company.
Mediation eventually took place between the parties, which proved unsuccessful. Settlement negotiations ensued after the mediation, and eventually favourable confidential terms of settlement were agreed. The BVI company was adequately compensated it for its losses and suitable provision was made for all its legal costs.
The CEO of the BVI company commented that he was extremely grateful for all the “hard work and effort” of Curzon Green in order to reach settlement in the long-running dispute. The BVI company and associated family group continue to instruct Curzon Green on a range of matters.
For details on how the Dispute Resolution Team may be able to assist in relation to a claim for professional negligence, please contact the team at disputeresolution@curzongreen.co.uk.