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Sale of land – Price. The claimant company (Aodhcon) sought to renovate and sell a property. It took out a loan with the defendant bridging loan company (Bridgeco). The loan ran out and Bridgeco sold the property. Aodhcon brought proceedings, contending, among other things, that Bridgeco had sold the property at too low a price in breach of duty. The Chancery Division held that there had been no breach of duty, and that Bridgeco's selling decisions had been within an acceptable margin of error.
Sale of land – Price. The claimant company (Aodhcon) sought to renovate and sell a property. It took out a loan with the defendant bridging loan company (Bridgeco). The loan ran out and Bridgeco sold the property. Aodhcon brought proceedings, contending, among other things, that Bridgeco had sold the property at too low a price in breach of duty. The Chancery Division held that there had been no breach of duty, and that Bridgeco's selling decisions had been within an acceptable margin of error.
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