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- South Australia Asset Management Corporation v York Montague Ltd and Banque Bruxelles Lambert SA v Eagle Star Insurance Co Ltd [1996] UKHL 10 is a joined English contract law case (often referred to as "SAAMCO") on causation and remoteness of damage. It arose out of the property crash in the early 1990s, whereby banks were suing valuers for overpricing houses in order to recover the lost market value. Owners themselves often had little or no money, since they had fallen victim to negative equity, so mortgage lenders would pursue a valuer instead to recover some losses. The legal principle arising from the case is often referred to as the "SAAMCO principle". (en)
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- 13065 (xsd:nonNegativeInteger)
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- [1996] UKHL 10, [1997] AC 191 (en)
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- South Australia Asset Management Corporation Respondents v. York Montague Ltd. Appellants United Bank of Kuwait Plc. Respondents v. Prudential Property Services Ltd. Appellants Nykredit Mortgage Bank Plc. Respondents v. Edward Erdman Group Ltd. Appellants (en)
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- Negligent misstatement, market values, remoteness of loss (en)
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- SAAMCo v York Montague Ltd (en)
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- South Australia Asset Management Corporation v York Montague Ltd and Banque Bruxelles Lambert SA v Eagle Star Insurance Co Ltd [1996] UKHL 10 is a joined English contract law case (often referred to as "SAAMCO") on causation and remoteness of damage. It arose out of the property crash in the early 1990s, whereby banks were suing valuers for overpricing houses in order to recover the lost market value. Owners themselves often had little or no money, since they had fallen victim to negative equity, so mortgage lenders would pursue a valuer instead to recover some losses. The legal principle arising from the case is often referred to as the "SAAMCO principle". (en)
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- South Australia Asset Management Corp v York Montague Ltd (en)
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