The Court of Appeal ruled today that Mishcon de Reya was liable for breach of trust after failing to make Dreamvar, the real estate buyer, aware of a fraudster posing as a seller.
After falling victim to fraud during the attempted purchase of a £1.1m property, Dreamvar filed claims against its own solicitor, Mishcon de Reya. Dreamvar argued that Mishcon de Raya was liable because it did not properly advise on or notify Dreamvar of the fact that the supposed seller of the £1.1m property was not who they claimed.
Jeremy Stephen, an associate director at Bryan Cave Leighton Paisner, who has acted in a number of property fraud cases, called the ruling ”a mixed blessing for clients”.
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