You Can’t Always Get What You Want: Lenders, breach of trust and Target revisited

Target v Redferns (decided by the House of Lords in 1995) alerted lenders to the possibility of seeking trust based remedies against their own solicitors where a mortgage transaction has gone wrong. Recently, there has been a steady stream of decisions (both in the High Court and the Court of Appeal) considering and applying Target, often in cases of identity fraud involving the impersonation of vendors or their solicitors. In a seminar to be delivered in March, Grant Crawford and I will analyse and explain what was actually decided by Target, the basis on which mortgage or purchase money is held by solicitors acting for lenders or cash buyers pending completion and the legal consequences of its dissipation. The subject is highly topical – the latest judgment in this line of authorities (Santander UK plc v R.A. Legal [2014] EWCA Civ 183) was handed down by the Court of Appeal on Monday (24th February). What we have to say about Target, Santander and other similar cases should be of particular interest to those advising lenders and insurers as well as to property litigators generally.

Grant Crawford appeared for the Defendant solicitors in Target Holdings Ltd v Redferns [1996] AC 421

Peter Dodge appeared for the Claimant purchaser in Ikbal v Sterling Law [2013] EWHC 3291 (Ch); [2014] PNLR 9

Tuesday 18th March 2014     6.00 for 6.30 p.m.

The Old Court Room, Lincoln’s Inn

 Free, but booking essential. To reserve a place, please contact Catherine Calder: click here

Advertisements