Legal success for the Cheshire

Cheshire Building Society was successful in its legal claim against professional advisers in relation to an external fraud which occurred in 2005.

The Judge in the Society’s legal case handed down a summary judgement in deceit against property valuers Dunlop Haywards Limited and ordered the firm to make an interim payment of £10 million to the Society.

The judgement follows the discovery of a suspected external fraud as the Society’s 2005 accounts were being signed off. A £10 million exceptional item provision was made and the Society began preparing its legal case in a bid to recover the money.

Commenting on the judgement, Cheshire Building Society’s Chief Executive Officer Karen McCormick said: “We are very pleased to have such a clear outcome in our claim against Dunlop Haywards for deceit. This is good news for the Society and confirms the strength of our case.”