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Property Law Journal: December 2015/January 2016

Anna Cartledge reviews some of the planning changes introduced this year

While the landslide result of 2015’s general election may have taken many by surprise, perhaps the steps taken since the Conservatives’ victory have not. The government is set on laying down what it sees as the key requirements for increasing housing numbers, focusing on promoting sustainable communities while doing its utmost to protect the green belt.

DWF

Thomas Armstrong highlights the problems posed by the registration gap, as well as some practical ways to alleviate them

As is widely known, legal title to land does not formally pass to a transferee of that land until the legal disposition has been registered at the Land Registry – assuming of course that it is a registrable disposition. Although the legal estate remains vested in the transferor, for most parties the deal is done before the ink on the page has dried.

Nabarro LLP

Natalie Appleby considers the position on penalties after the recent Supreme Court ruling in Cavendish and ParkingEye

Just over a century after the House of Lords considered the law on unenforceable penalties in Dunlop Pneumatic Tyre Co Ltd v New Garage and Motor Co Ltd [1914], the Supreme Court has declined an invitation to abolish or restrict the rule on penalties, instead restating the rule to move away from the ‘genuine pre-estimate of loss’ test often quoted from Lord Dunedin’s judgment in Dunlop.

RPC

Alexandra Anderson examines the decision in Titan v Colliers relating to an SPV which sought to bring a claim against a valuer

On 3 November 2015, the Court of Appeal handed down its much-anticipated judgment on the appeal brought by Colliers against the finding of Blair J, who found that the company had been negligent in valuing a property in Germany (Titan Europe 2006-3 plc v Colliers International UK plc [2015]). The outcome was significant for two reasons: it was the first decision to deal with the question of whether a special purpose vehicle (SPV) established for the purposes of securitising a loan could bring a claim against a valuer, even if the loan was funded by third-party noteholders who were the only party that would suffer a financial loss if the valuation of the underlying asset was wrong, and it demonstrated the approach a court would take where a party sought to challenge a finding on valuation.

David Marsden assesses a recent High Court case concerning financial prejudice suffered by administrators and forfeiture

The recent case of Lazari Investments Ltd v Saville [2015] states for the first time that financial prejudice suffered by administrators may not necessarily be enough to prevent forfeiture, and that loss of rent is not the only prejudice landlords can suffer. It is also a reminder to administrators of the main principles under a pre-pack administration, this time in the context of the administration of Strada.

John Starr

John Starr provides a case update on adjudication and the issues that can arise when a project goes wrong and a claim is brought against a construction professional