Pure economic losses are financial losses which have not flowed from damage to the property or personal injury to the claimant, this type of economic loss also arises when the damage that has been caused resulting in loss to the claimant flows from damage to the property of a third party. When the loss is caused by damage to the property of a third party it is referred to as relational economic loss which is not usually recoverable in English law. However, there is one exception to this rule which was identified in Morrison Steamship Co Ltd v Greystoke Castle  AC 265. In this case there was a contractual relationship between the party who 's property was negligently damaged and the party who had suffered a pure financial loss relating to that damage. The plaintiff, therefore, succeeded in their claim for the relational financial loss that they incurred. In contrast, consequential economic loss flows directly from damage to the property owned by the claima...
... middle of paper ...
...arent that Opportunity Developers Ltd are the only party that can be held responsible for the defective work and for the losses suffered by Luxury flats Ltd as a consequence of that defective work.
In conclusion, Luxury Flats Ltd are to be advised that based on recently decided cases any claim brought that is brought against Melchester District Council would be unlikely to succeed. Therefore, given that there is legislation in place which protects against the provision of defective buildings by developers it would be advisable that a claim is made in contract against Opportunity Developers Ltd. Especially in the light of the fact that there is a close proximity of relationship between the parties and that the losses were caused as a direct result of the defective building work which rendered the premises uninhabitable contrary to the Defective Premises Act 1972.
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