A property development company received negligent advice from a solicitor which put it in breach of the terms of its long leasehold interest. Because of the negligent advice, the client risked having its long leasehold interest forfeited by the Landlord.
We put a plan into place to deal with the forfeiture threat while negotiations were under way to purchase the Landlord’s interest and eliminate the risk of forfeiture. Ultimately, the client purchased the Landlord’s interest in the property, albeit for a significant premium.
We were able to negotiate a settlement of the claim against the client’s former solicitors before legal proceedings were issued.
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