Report comment

Mishcons were found to be in breach of trust in releasing the funds in circumstances where there was no completion (because of the fraud), it being implied that the authority to release the funds was for that sole purpose.

The insurance issue was linked to a claim for relief under s.61 Trustee Act 1925, which failed.

I recall that the seller's solicitors had limited insurance, but in any event the judge held that they had done nothing wrong.

I agree that the case should be reversed on appeal, but the legal issues involved are not quite so straightforward as portrayed.