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Article 12/04/2022
There is quite a bit of market concern with the publication of the third appeal to creditors on the official page of Seguros Sucre, now in liquidation. The function of these communications is to notify the public about the status of the liquidation process and get creditors to register their claims and debts receivable from the insurer.
Case review 04/12/2017
The Supreme Court has overturned the Court of Appeal’s earlier judgment (see article) which called into question the application of the ‘but for’ test where a negligent valuation caused a lender to increase an existing exposure to a borrower (where the valuation giving rise to the initial exposure was not the subject of criticism). In those narrow circumstances, recoverable losses are now likely to be limited to the amount of any additional lending.
