Savills Calls HSBC Loans Reckless in Row of Real Estate Appraisals


By Joanne Faulkner (April 1, 2021, 4:59 p.m. BST) – Estate agent Savills argued that HSBC acted recklessly and in violation of its own lending policies after the bank blamed its appraisals of properties in London for having encouraged risky lending decisions.

Savills argued in the High Court defense on March 29 that he could not be blamed for the losses allegedly suffered by HSBC UK Bank PLC after being exposed for over £ 136million ($ 188million) to a client and to entities related to him.

The real estate agent was hired by HSBC to provide appraisals on the properties that were used as collateral for the loan. HSBC’s January lawsuit seeks damages from Savills for …

Stay one step ahead

In the legal profession, information is the key to success. You need to know what’s going on with customers, competitors, practice areas, and industries. Law360 provides the intelligence you need to stay an expert and beat the competition.

  • Access to case data in articles (numbers, filings, courts, nature of prosecution, etc.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, requests, etc.
  • Create personalized alerts for specific articles and topics and more!



Leave a Reply

Your email address will not be published. Required fields are marked *