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Practice – Compromise of action. Following settlement of an action, the appellant's shares in a company were to be purchased by the first respondent at a price to be determined by an independent valuer. The appellant unsuccessfully challenged the valuation as not being in accordance with the valuer's mandate as set out in the Tomlin Order. The Court of Appeal, Civil Division, allowed the appeal as, on the true construction of the express terms of the settlement, the valuer had been instructed to arrive at his valuation with regard to the books and records, including the handwritten takings, of the company. He had failed to take into account the handwritten takings and so had not followed his mandate.
Practice – Compromise of action. Following settlement of an action, the appellant's shares in a company were to be purchased by the first respondent at a price to be determined by an independent valuer. The appellant unsuccessfully challenged the valuation as not being in accordance with the valuer's mandate as set out in the Tomlin Order. The Court of Appeal, Civil Division, allowed the appeal as, on the true construction of the express terms of the settlement, the valuer had been instructed to arrive at his valuation with regard to the books and records, including the handwritten takings, of the company. He had failed to take into account the handwritten takings and so had not followed his mandate.
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Westgate Wealth Management Ltd is a Partner Practice of FTSE 100 company St. James’s Place – one of the top UK Wealth Management firms. We offer a holistic service of distinct quality, integrity, and excellence with the aim to build a professional and valuable relationship with our clients, helping to provide them with security now, prosperity in the future and the highest standard of service in all of our dealings.
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