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JEB Fasteners Ltd v Marks, Bloom & Co (a firm)  1 All ER 583 applied; Cavendish Funding Ltd v Henry Spencer & Sons Ltd  PNLR 122 considered. (4) The consequences of the incorrect valuation being provided by the defendant was that the claimants paid an excess of £18m. Accordingly, that figure represented the loss suffered (see ,  and  of the judgment). Caparo Industries plc v Dickman  1 All ER 568 considered; South Australia Asset Management Corp v York Montague Ltd (sub nom Banque Bruxelles Lambert SA v Eagle Star Insurance Co Ltd)  3 All ER 365 considered; Nykredit Mortgage Bank plc v Edward Erdman Group Ltd (No 2)  1 All ER 305 considered; Aneco Reinsurance Underwriting Ltd (in liquidation) v Johnson & Higgins Ltd  2 All ER (Comm) 929 considered. In 2001, the claimant companies retained the defendant firm of chartered surveyors and property consultants to advise them in relation to the acquisition of a site for development. That site fell within an ‘enterprise zone’ which was eligible for enterprise zone tax allowances, which had an effect on the value of the property. The second claimant was created as an investment vehicle established to enable individual investors to invest in the site. It was appointed trustee after the start of the relationship between the first claimant and the defendant. Pursuant to that retainer, the defendant provided positive advice about the site’s commercial prospects, and valued it at £63m, with enterprise zone tax allowances, and £48m without. The claimants contended that the defendant’s advice substantially overstated the commercial prospects, and that the value of the site was fundamentally flawed. The claimants issued proceedings seeking damages for breach of contract and/or in negligence. The claimants sought damages from the defendant in respect of all the losses they suffered as a result of entering the transaction. The claimants calculated the damages on the basis of the difference between the price paid together with any profits earned, and its actual subsequent market value. Alternatively, they sought damages on the basis of the difference between the price paid and its true value at the time of acquisition. The defendants questioned whether the second claimant was a proper party to the litigation, denied liability and causation, and put quantum in issue. The claim would be allowed. (1) On the evidence, it was established that the defendant had been retained by the claimants and had agreed to prepare the valuation on the terms the claimants alleged. Additionally, the defendants owed the claimants a duty of care in tort (see - and  of the judgment). (2) It was established law, inter alia, that the process of valuing real property had strong subjective elements. It was an art not a science, and not every error of judgment amounted to negligence. There was a ‘bracket’; a ‘permissible margin of error’. It was a necessary pre-condition to liability that the final valuation figure was shown to be wrong, i.e. ‘outside the bracket’. Where the court was considering whether a valuation was in itself negligent, the claimant normally had to show not only that the valuer fell in some way below the standards to be expected of a reasonably competent professional, but also that the valuation fell outside the range within which a reasonably competent valuer could have valued the asset. Where the valuation was made up of a number of different aspects, a different methodology might have to be adopted in relation to different aspects because of the nature of the particular valuation process with which the court was dealing. In general, the bracket should only be assessed by arriving at a bracket for each of the variables rather than only for those variables that were alleged or found to have been negligently assessed. If the valuation was outside the range, the professional might escape liability if he could prove that he exercised reasonable skill and care. If the valuation was found to fall within the range, the claimant would still be entitled to succeed if it could demonstrate that it had suffered loss as a result of negligent advice given in the course of, or in addition to, the valuation process. Whatever the range might be, the court had to form a view as to what the correct valuation would have been. If that ‘correct valuation’ fell outside the appropriate range of the actual valuation, damages would be assessed by reference to that figure. It followed that damages should not be limited to the excess over the highest valuation which would not have been negligent (see - of the judgment). Applying that approach, the competent valuation of the site on an open market valuation without the benefit of the enterprise zone allowance should have produced a figure of £34m. The figure supplied by the defendant of £48m was well above that. It followed that the defendant’s valuation was in breach of duty and negligent. The figure including the enterprise zone allowance should have been £45m. The figure supplied by the defendant of £63m was in breach of duty and negligent (see  and  of the judgment). Information or advice – Reliance on skill and judgment – Valuer Capita Alternative Fund Services (Guernsey) Ltd and another v Drivers Jonas: Queen’s Bench Division, Commercial Court (Mr Justice Eder): 9 September 2011 Goldstein v Levy Gee (a firm)  All ER (D) 12 (Jul) applied; Dennard v PricewaterhouseCoopers LLP  All ER (D) 192 (Apr) applied; K/S Lincoln v CB Richard Ellis Hotels Ltd (No 2)  All ER (D) 138 (Jun) applied; Singer and Friedlander Ltd v John D Wood & Co  EGD 569 applied; Merivale Moore plc v Strutt & Parker  All ER (D) 403 applied; South Australia Asset Management Corp v York Montague Ltd (sub nom Banque Bruxelles Lambert SA v Eagle Star Insurance Co Ltd)  3 All ER 365 applied; Bolam v Friern Hospital Management Committee  2 All ER 118 considered; Bolitho v City and Hackney Health Authority  4 All ER 771 considered. (3) The claimants were, in the circumstances, able to demonstrate that the advice played a real and substantial part in inducing them to invest in the site, which established the element of causation necessary (see  and  of the judgment). Sue Carr QC, Graham Chapman and Lucy Colter (instructed by Bond Pearce LLP) for the claimant. Roger Stewart QC, Sian Mirchandani (instructed by Berrymans Lace Mawer LLP) for the defendant.
Stay at the forefront of thought leadership with news and analysis from award-winning journalists. Enjoy company features, CEO interviews, architectural reviews, technical project know-how and the latest innovations.Limited access to building.co.ukBreaking industry news as it happensBreaking, daily and weekly e-newsletters To continue enjoying Building.co.uk, sign up for free guest accessExisting subscriber? LOGIN Subscribe to Building today and you will benefit from:Unlimited access to all stories including expert analysis and comment from industry leadersOur league tables, cost models and economics dataOur online archive of over 10,000 articlesBuilding magazine digital editionsBuilding magazine print editionsPrinted/digital supplementsSubscribe now for unlimited access.View our subscription options and join our community Get your free guest access SIGN UP TODAY Subscribe now for unlimited access
Subscribe now for unlimited access To continue enjoying Building.co.uk, sign up for free guest accessExisting subscriber? LOGIN Get your free guest access SIGN UP TODAY Stay at the forefront of thought leadership with news and analysis from award-winning journalists. Enjoy company features, CEO interviews, architectural reviews, technical project know-how and the latest innovations.Limited access to building.co.ukBreaking industry news as it happensBreaking, daily and weekly e-newsletters Subscribe to Building today and you will benefit from:Unlimited access to all stories including expert analysis and comment from industry leadersOur league tables, cost models and economics dataOur online archive of over 10,000 articlesBuilding magazine digital editionsBuilding magazine print editionsPrinted/digital supplementsSubscribe now for unlimited access.View our subscription options and join our community
Aneeka Herold of Maneneberg High school was diagnosed with brain cancer. To commemorate cancer awareness month, Manenberg High School hosted a cancer awareness day last Thursday, where they honoured one of their Grade 8 pupils who was diagnosed with brain cancer.Doctors discovered a tumour in Aneeka Herold’s brain in September last year. Her mother, Zayaan Herold, noticed that there was something wrong when Aneeka’s speech began to slur. She took Aneeka to a doctor in Heideveld, where she was referred to a day hospital. At the hospital, doctors told Ms Herold that her daughter was experiencing normal “growing pains” and she was sent home. A week later, the pain still persisted and doctors gave her a referral letter for the Red Cross Children’s War Memorial Hospital. Two weeks later, Aneeka went to Groote Schuur Hospital for a scan and doctors discovered a tumour on her brain.In February this year, Aneeka underwent radiation treatment to reduce the size of the tumour so doctors could operate, but before the operation took place, it was discovered that the tumour had grown bigger, covering a large part of Aneeka’s brain, meaning that surgery was no longer an option.In August, she lost the feeling in her left leg and later that month in her right leg, and was confined to a wheelchair. Three weeks ago Aneeka went for a check-up where doctors told her that there was nothing more they could do for her.At the event last week, Aneeka’s best friend Nurah Hendricks, spoke about their friendship.“I met Aneeka at her house for the first time when my uncle introduced me to her.“We visited each other all the time. Aneeka is very kind-hearted and always likes to share. We were separated in Grade 5 but reunited in the same class in Grade 7 again. In the middle of the year, Aneeka stayed absent a lot and I went to her mother and asked her what was wrong with Aneeka. Her mother said she was tired all the time. She went for X-rays and they discovered the tumour. I was so sad, but I decided that I need to be there for her. My friends and myself then decided to visit Aneeka,” said Nurah.Ms Herold’s advice was that people should always keep track of their health.“Radiation treatment can help or can’t, but it is important to get checked out,” said Ms Herold.The programme also included a speech by Ruth Smith, one of the parents who had lost her child to cancer.Selina, Ms Smith’s daughter, was seven years old at the time. In 2012, over the Easter weekend, Selina’s leg started swelling.The following Monday, Ms Smith took her to the hospital and doctors said there was nothing wrong with her leg and wrapped a bandage around it.Ms Smith did not go home because she believed that something was wrong. She stayed until the night shift nurses came and asked them to do an X-ray to put her mind at ease. She was then given a referral letter to the Red Cross War Memorial Children’s Hospital, where doctors discovered the cancer.The following week she was sent to Maitland Cottage Home for surgery and stayed in hospital for a month. Selina underwent chemotherapy for two and a half months.Ms Smith described how she slept at the hospital during that time.“I only came home weekends. The chemotherapy gave Selina different moods every day.“There were days where she refused to go for chemo and I had to beg her to go. I asked God for strength to get me through it,” said Ms Smith.In 2014, Selina’s cancer came back, in other parts of her body. She told Ms Smith that she did not want more operations and wanted to be put in a wheelchair.Doctors were able to remove 99 percent of the tumour in her spine but could not remove the remaining 1 percent. Ms Smith said that Selina was okay for a while but one day she couldn’t breathe properly and had water on her lungs. Doctors drained her lungs and gave her a 50 percent chance of survival. Selina decided that she did not want any further operations or treatment.“On Sunday June 28, 2015, Selina struggled with her breathing again and I said let’s go to the hospital for oxygen but she said no,” said Ms Smith.She passed away the following day.Ms Smith that her daughter had a place in many people’s hearts, both old and young.She said that people should look after themselves.“Look after your body, it is a temple from God for you to look after. I miss her a lot, and I thank God every day for being on my side,” Ms Smith added.Ms Smith said she would like to thank Red Cross Children’s Hospital’s oncology unit for everything they did for her daughter.
Listed legal services provider Quindell has confirmed it is in talks with international firm Slater & Gordon about the transfer of personal injury files.Quindell made the announcement, entitled ‘press speculation’ to the London Stock Exchange this afternoon.The company announced on 2 January it was in talks with a buyer about selling a section of the business.The statement said: ‘Quindell announced it had entered into exclusivity arrangements in respect of the possible disposal of an operating division of the group.‘The company notes the speculation concerning the identity of the third party and can confirm that Slater & Gordon Limited (S&G) is the party referred to in previous announcements.‘There can be no certainty that these discussions will lead to an offer for, or the disposal of, an operating division of the group.’Slater & Gordon, which is listed on the Australian stock exchange, has been relatively quiet since a rush of mergers after it first arrived in the UK with the takeover of Russell Jones & Walker in 2012. The latest merger with Pannone will see the Manchester firm rebranded in March.The group reported in its annual financial report last year that it had 1,300 employees in the UK, up from 425 when it first arrived in this country.Quindell has built a significant legal services division through the acquisitions of Abstract Legal Holdings, the parent company of Accident Advice Helpline, personal injury firms The Compensation Lawyers, Silberbeck Rymer and Pinto Potts, and costs firm Compass Costs.The group suffered a difficult 2014, with a negative report from analyst Gotham City Research, the failure to achieve a premium listing and the resignation of management figures all sending the share price tumbling.Since the turn of the year, the value has somewhat recovered, and it has been boosted still by the news of the Slater & Gordon interest, with the share price today rising 16.25p to 121.5p – an increase of more than 15%.On Friday, Slater & Gordon (SGH) updated the Australian stock exchange with confirmation of talks with Quindell.Its statement said: ‘SGH confirms that, consistent with our previously communicated UK growth strategy, SGH has entered into exclusivity arrangements with Quindell in respect of discussions relating to a possible disposal of an operating division of the Quindell Group. These discussions remain preliminary and incomplete.’Slater & Gordon said as part of these arrangements, the firm is completing due diligence on a portfolio of Quindell personal injury files with a view to a transfer of files over the coming months. The firm added it has not submitted any offer or proposal beyond the file transfer.
online pictureZimbabwe’s Education Minister Lazarus Dokora announced that parents are allowed to pay their children’s school fees with livestock or by providing labor at the school, reports Zim eye.“Schools should not turn away pupils for not paying tuition fees. Instead, parents of the concerned children can pay the fees using livestock. That is mostly for rural areas, but parents in towns and cities can pay through other means, for instance, doing certain work for the school,” said the Education Ministry permanent secretary Dr. Sylivia Utete-Masango.School heads have been directed to work with school committee members for parents to determine the value of livestock which can be sold to get money to upgrade the school infrastructure or use the livestock in agriculture.The Education ministry further advised that certain skills that are beneficial to schools should be utilized to make school fees payment plans.“Our schools have to be flexible and ensure those who do not have money to pay fees can work. For example, if there is a builder in the community, he/she must be given that opportunity to work as a form of payment of tuition fees,” read the statement by the Education Minister announced by the State Media early Sunday morning.Zimbabwe is experiencing a worsening cash shortages and hyper-inflation.This comes after Commercial banks in Zimbabwe were directed to accept livestock such as cattle, goats and sheep as collateral for cash loans to informal businesses under a new law presented to parliament Tuesday.
CLEVELAND – Listen as Matt Loede of NEO Sports Insiders chats with 106.5 The Ticket midday host Bob Frantz on the red-hot start of the Cavaliers, as well as the rest of the NBA as the season gets going and the surprises and disappointments in the West and East thus far. Listen to the Matt Loede / Bob Frantz interview Related TopicsCavsKevin LoveLebron JamesNBA Matt Loede Matt Loede has been a part of the Cleveland Sports Media for over 21 years, with experience covering Major League Baseball, National Basketball Association, the National Football League and even high school and college events. He has been a part of the Cleveland Indians coverage since the opening of Jacobs/Progressive Field in 1994, and spent two and a half years covering the team for 92.3 The Fan, and covers them daily for Associated Press Radio. You can follow Matt on Twitter HERE.
Related Topics2021 NFL DraftClevelandCleveland BrownsDee HaslamfeaturedJimmy HaslamRoger Goodell For years the NFL Draft was considered the Super Bowl for the Browns and the team’s fans. Now, the franchise’s city will host the NFL’s offseason crown jewel.NFL Commissioner Roger Goodell announced the selection of Cleveland as the host city for the 2021 NFL Draft on Wednesday, at the league’s spring meetings in Key Biscayne, Fla. Kansas City was chosen to host the event in 2023. Both the Cleveland Browns organization and the Greater Cleveland Sports Commission had a hand in helping the city earn the bid.Cleveland was in the mix host the 2019 and 2020 NFL Drafts as well, with a proposal that incorporated Canton and the Pro Football Hall of Fame into the weekend of festivities. Ultimately Nashville and Las Vegas were chosen to host the drafts in those years.Browns owners Dee and Jimmy Haslam called the opportunity an “exceptional” one for Northeast Ohio.“We are incredibly honored to be able to showcase the City of Cleveland and the passion of Browns fans through the unique international platform the NFL Draft provides,” they ownership duo said. “This is an exceptional opportunity for Northeast Ohio that even extends beyond football, and we look forward to continuing the work ahead with Greater Cleveland Sports Commission, the City of Cleveland, Destination Cleveland and the NFL to ensure that the 2021 NFL Draft is truly memorable for Northeast Ohio and football fans across the world.”For more than a decade the NFL held the draft at Radio City Music Hall in New York City before deciding to first started taking the show on the road to various host cities in 2015. Chicago was first to host the event in back-to-back years in 2015-2016. Their next stops were in Philadelphia in 2017 and Dallas in 2018 before it invaded Nashville last monthNashville saw a record attendance of more than 600,000 people flood the streets outside the main stage to be part of the experience. Serving as the host city produced an economic boom in each of those respective sites. In fact, just this week Nashville announced that the economic impact on their city was $132.8 million. And while Cleveland may not be the tourist destination that Nashville has become, the draft will bring a massive economic impact to the area nonetheless.“Cleveland is honored to be selected as the host city for the 2021 NFL Draft and we are excited to once again show the world that this city can set a standard for hosting some of the world’s largest events,” President and CEO of Greater Cleveland Sports Commission, David Gilbert said. “This event will provide international media exposure and has proven to provide more than $100 million in economic impact to the host city. We look forward to showing NFL fans across the nation how Cleveland throws a party.”It’s expected that the three day spectacle will take place throughout downtown Cleveland and is sure to include all the bells and whistles. In successfully hosting the Republican National Convention in 2016, the city of Cleveland proved to the world that it can handle massive tourist attractions. Add the NFL Draft to the list of big events coming to town. In a few months, the MLB All-Star Game will be played over at Progressive Field and earlier this year the NBA chose Cleveland to host their All-Star Game in 2022.Cleveland is just the place to be right now! Spencer German
Lawton: “Too often by the time we legally intervened with a family there was a long history of multiple, multiple prior investigations where perhaps intervention should have been sooner. So we did our own evaluation, went region to region really looking at the decision-making that was occurring at intake, we were looking at national rates of screening and kind of comparing ourselves to typically what the rest of the country’s doing and found we were out of alignment, so we’ve been making adjustments to really get back into the realm we should be in, insuring we are serving the right population.” FacebookTwitterEmailPrintFriendly分享The number of Alaskan children in the state’s foster care system has hit an all-time high of 2,929. Christy Lawton, Director of the Office of Children’s Services, says that doesn’t mean family conditions are getting worse; it likely reflects an increased focus in state services… Lawton says there’s currently just under 1,600 licensed foster homes for those children, but she’s hoping the numbers will level out. Lawton: “I don’t think that the growth is going to continue at the rate we have seen. I think we’re going to see some leveling off and there are a number of efforts we’ve been working on ensuring that we are exiting more kids than are entering on any given day.” Lawton says OCS will always respond to a crisis, but staff and children suffer when the agency is constantly overloaded and operating in crisis mode. She’s asking the community to surround and support families who may be in need.