Reversal of unjust enrichment where a lender does not advance funds but...
Can a lender be subrogated to reverse the effect of unjust enrichment where the lender did not advance funds, but released security instead? Previously there had been no authority on this question, but...
View ArticleCrowdfunding: the new economy with the old risks
Crowdfunding has undoubtedly changed the way that businesses think about raising capital and funding expansion. There are a range of alternative finance options available to start-ups which have...
View ArticleA Beginner’s Guide to Tax Havens : Part Three
Proposals to regulate the offshore system In previous blogs, I looked at what the perceived problems are with the existence of low-tax offshore jurisdictions. The areas of concern can generally be...
View ArticleHigh Court clarifies meaning of “financial condition” in material adverse...
Grupo Hotelero Urvasco SA v Carey Value Added SL, High Court The High Court has decided that discussions regarding “rescheduling” of a company’s indebtedness was an event of default under a loan...
View ArticleThe Government has rejected calls to regulate asset-based lenders…for now
The Government has indicated that it will not seek to regulate the asset-based finance industry, despite accusations that some providers are exploiting small and medium-sized (SME) businesses. Despite...
View ArticleNew research shows that UK brokers are overwhelmingly using asset finance to...
New research from United Trust Bank has revealed that three-quarters of UK brokers had signed asset finance agreements to help businesses release capital by lending on assets that were unrelated to the...
View ArticleMistake as to the terms of a charge
By section 101 of the Law of Property Act 1925 (“the Act”), a mortgagee has certain powers by implication of law, which do not need to be set out in the mortgage deed itself. One of the powers includes...
View ArticleCharging orders and priority
Where a judgment creditor obtains a charging order, which is then registered at the Land Registry by way of notice, it is often assumed that this will give the judgment creditor priority over other...
View ArticleCosts budgets – beware
Costs budgeting is certainly all the rage. Jackson LJ has drafted rules and practice directions which will introduce costs management in all but heavy Commercial Court cases in April 2013. So this...
View ArticleWhat happens where a matter is settled, but the question of costs remains...
This case concerned a dispute relating to the composition of the so-called board of management of the unincorporated association known as Shree Swaminarayan Satsang (“the Organisation”) which centres...
View ArticleShould an application for permission to appeal be heard separately from an...
When a party wishes to appeal a decision, it will usually need permission to appeal before the appeal court can hear the appeal in accordance with the Civil Procedure Rules (“CPR”) Part 52.3. Despite...
View ArticleWhen is a side letter enforceable?
Even where parties intend to create legal relations, it does not necessarily follow that a legally enforceable agreement is created. This Court of Appeal case demonstrates that where a side letter...
View ArticleWhen is it reasonable to refuse mediation?
The decision whether to agree to mediation can be a difficult one. If a party considers that it has a water-tight case it may not wish to incur the unnecessary expense of attending a mediation since...
View ArticleRequests to adjourn a trial
When a party makes a request to adjourn a trial on medical grounds it can be difficult to determine whether it is genuine or simply a delaying tactic. This case gives clear guidance on the principles...
View ArticleCourt of Appeal compulsory mediation scheme
A new pilot scheme managed by CEDR (Centre for Dispute Resolution) for certain Court of Appeal cases has been launched. The pilot applies to all personal injury and contract claims up to the value of...
View ArticleA question of loss
One of the questions that the courts have been vexed with is how much loss a claimant is entitled to recover in relation to a breach of trust claim against its solicitors. In this case, solicitors...
View ArticlePurchase and leaseback schemes – are they binding on a lender?
This appeal concerned nine test cases involving purchase and leaseback schemes whereby owners of properties (“the Vendors”) had sold their homes to purchasers (“the Purchasers”), who had promised that...
View ArticleThe perils of Part 36
This is yet a further case on Part 36 and the perils of not complying strictly with its provisions. On 6 April 2007, Part 36 was completely rewritten. In this case when the claimant put forward their...
View ArticleDefault Notices
This is a Court of Appeal judgment involving a debt of £5,000 owed by Mr Brandon in respect of his credit card with Amex. On 19 June 2007, Amex issued a Default Notice asserting a breach of the...
View ArticleAt the discretion of the lender
This dispute centred on the meaning of a loan agreement and is an example of how a court will approach the question of construction of a loan agreement. The purpose of the loan was to provide the...
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