Dan Cuthbert assesses the problem with Ellis v Rowbotham in the light of a recent decision ‘Morgan J concluded that a reasonable person reading the lease would expect that in a case where the break clause was operated to take effect on 24 January 2012 that the rent would be payable for the term to …
Continue reading "Apportionment Of Rent: Breaking up is hard to do – part 2"
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Wills & Trusts Law Reports | October 2012 #123The appellants were the trustees of the Maylands Unit Trust (the trustees), a Jersey-based unit trust formed as a vehicle for the acquisition of warehouse premises in Hemel Hampstead (the property) by Cantabria Investments Ltd (Cantabria). The purchase price of the property was £28.1m, funded by £7.1m of Cantabria’s own resources and a £21m loan from Capmark Bank Europe (the bank) and secured on the property. The security was created by a deed of guarantee and debenture (the debenture) between the trustees and the bank. At the time of the purchase of the property it was subject to ...
