We act for two Special Purpose Vehicles (“SPVs”) set up for the purposes of purchasing properties. The SPVs are subsidiaries of an Austrian publicly listed bank. The SPVs purchased a portfolio of shopping centres across the UK.
The SPVs claim that it relied upon survey reports when purchasing the portfolio. Following completion, it transpired that the service area and car park suffered from serious structural problems.
The SPVs instructed a firm of solicitors based in Scotland to assist with pursuing a claim against the surveyors for negligence on the basis the SPV’s relied upon the advice in the surveyor’s report when purchasing the portfolio.
The firm of solicitors failed to issue the claim in time and as a result the SPVs lost their chance to pursue the surveyors due to limitation issues.
We are instructed to assist the SPVs in a claim against the firm of solicitors for professional negligence.
