Valuers do not need a crystal ball

Discusses the recent decision in South Australia Asset Management Corporation vs. York Montague Ltd and two other cases in which the House of Lords unanimously decided that a valuer is not liable for market losses suffered by a lender who lends on the security of negligently valued property in circumstances where the valuation is only one of many pieces of information on which the lender bases the decision to lend. The earlier decision of the Court of Appeal in Banque Bruxelles Lambert SA and four other cases was reversed.