Our Dispute Resolution Team’s Lee Silk and Jack Plummer were recently successful in securing a confidential six-figure settlement for our client relating to the purchase of an off-plan property with an unusually high deposit that had failed to be built ahead of the longstop date for completion. Our Team assisted on the basis of a Conditional Fee Agreement (‘no win, no fee’).
Through the Team’s assistance, a claim for breach of contract against the property developer was issued and a successful application was made for summary judgment. The property developer subsequently entered compulsory liquidation following a successful winding-up petition based on its inability to pay its debts.
Pre-action correspondence was exchanged with our client’s previous conveyancing solicitors as a result of their professional negligence whilst acting in the off-plan purchase. That firm had failed to advise on the unusually high deposit that was in fact unprotected with no warranty being in place. The value of that claim was subject to the outcome of successful enforcement and recovery of the judgment obtained against the property developer.
Negotiations ensued which resulted in settlement on extremely favourable terms for our client. The settlement made provision for all of the losses incurred by our client in the purchase of the off-plan property, plus interest and the legal costs associated with pursuing the claim against the property developer through to successful conclusion.
For further information on how our Dispute Resolution Team may be able to assist you in relation to a claim for breach of contract or professional negligence, please contact the team on firstname.lastname@example.org or on the above telephone numbers.