News: Miles Smith case highlights non-disclosure danger
Brokers have been warned of the perils of non-disclosure following a recent court case involving commercial high-risk broker Miles Smith.
Waste electrical recycler Environcom failed in its £6m compensation claim against the broker, following a fire involving high-temperature plasma guns, which destroyed its £2.1m recycling site in Grantham.
Although Mr Justice David Steel did not rule in the claimant's favour, he still found Miles Smith's attempts to explain Envirocom's obligations "seriously inadequate".
Environcom lost the case as the judge concluded that, even if the brokers had done all they should have done, the use of the
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