Santander v Allied Surveyors Scotland Plc  

Case in which Santander sued Allied Surveyors following their valuation of a leasehold interest in a property at the Espalande, Aberdeen over which the bank had taken a standard security. Allied valued the estimated realisation price of the interest in the property at £300,000 whereas the true value was £75,000. However, the Temporary Judge found that the Santander's loss occurred at the point the loan was made in October 2001 and consequently Allied's obligation in relation to the valuation had been extinguished in terms of s6 of the Prescription and Limitation (Scotland) Act 1973.

Scottish Courts, 25 January 2011