Category: equity

Magic beans for that cow? – Zenith Chambers

Posted November 17th, 2014 in appeals, equity, housing, landlord & tenant, leases, mortgages, news, rent, Supreme Court by sally

‘The North East Property Buyers litigation test cases finally reached the Supreme Court and judgment was handed down on 22nd October 2014. Any practitioner in property and housing litigation in the North East, and indeed further afield, will have had some knowledge of, or dealings with, schemes such as were in these cases examined. They concerned sale and lease back agreements, a simple enough notion, involving the purchase of a vendor’s home by a nominee, often at an undervalue, in return granting the vendor a lease of the property, thereby releasing equity to the vendor and allowing them to remain in the property at a reduced rent.’

Full story (PDF)

Zenith Chambers, 24th October 2014

Source: www.zenithchambers.co.uk

No loss of confidence – establishing causation in confidential information claims – RPC Privacy Law

Posted October 8th, 2014 in burden of proof, company law, confidentiality, contracts, damages, equity, news, shareholders, trusts, valuation by sally

‘This case is an interesting example of a claim for breach of confidence (both in contract and in equity) where, although liability was established, only nominal damages (£1) were awarded to the Claimant.’

Full story

RPC Privacy Law, 7th October 2014

Source: www.rpc.co.uk

Bribes and secret commissions: Cedar in the Supreme Court – New Square Chambers

Posted September 3rd, 2014 in agency, bribery, equity, fiduciary duty, news, trusts by sally

‘What claim does a principal have where an agent or other fiduciary receives a bribe or secret commission in breach of the duty owed to him? Is the principal confined to a personal claim for equitable compensation from the fiduciary or canhe show that the bribe or commission was held on trust for him? After two centuries of debate in and out of the courts, the Supreme Court in FHR European Ventures LLP v Cedar Capital Partners [2014] UKSC 45 determined that the bribe or commission is held on trust such that the principal does enjoy a proprietary claim.’

Full story

New Square Chambers, 14th August 2014

Source: www.newsquarechambers.co.uk

The quasi-trust – The Barristers’ Hub

Posted August 4th, 2014 in constructive trusts, equity, fiduciary duty, limitations, news, Supreme Court, trusts by sally

‘As every student of equity knows well, a trust is a type of property ownership in which one or more people (the trustee(s)) hold property on behalf of one or more other people (the beneficiary/ies), exercise all the powers of an owner of property in relation to third parties, but are bound to do so for the exclusive interests of the beneficiaries. A trust can be express, made by a formal written implement, or implied, either by transfer of property without explanation (a resulting trust) or in circumstances where the common intention of the parties is or is deemed to be for the property to be held on trust (a constructive trust). Both express and implied trusts are genuine trusts: the property is owned by the trustee, subject to the interest of the beneficiaries.’

Full story

The Barristers’ Hub, 1st August 2014

Source: www.barristershub.co.uk

The County Court challenge: a practical view from the Bar – Littleton Chambers

Posted May 12th, 2014 in civil procedure rules, county courts, damages, equity, jurisdiction, news by sally

‘Given the continued attention commanded by the stream of relief from sanctions decisions and the implementation of the Jackson reforms, it is unsurprising that the secondary legislation that brought into force section 17 of the Crime and Courts Act 2013, and which made related changes to the CPR (see Legal update, The Civil Procedure (Amendment) Rules 2014 published), passed by relatively unnoticed. It would, however, be a mistake not to note the significant changes to the County Court and its jurisdiction. These will throw up significant practical issues for the courts themselves and, in some regions more than others, will create a number of tactical dilemmas for litigators.’

Full story (PDF)

Littleton Chambers, 7th May 2014

Source: www.littletonchambers.com

Equitable Interests in Patents and Patent Applications – NIPC Law

Posted April 11th, 2014 in constructive trusts, equity, news, patents by sally

‘In Yeda Research and Development Company Ltd v. Rhone-Poulenc Rorer International Holdings Inc and Others [2007] Bus LR 1796, [2007] BusLR 1796, [2008] 1 All ER 425, [2007] UKHL 43 Lord Hoffmann described s.7 (2) and (3) of the Patents Act 1977 as “an exhaustive code for determining who is entitled to the grant of a patent.”‘

Full story

NIPC Law, 10th April 2014

Source: www.nipclaw.blogspot.co.uk

A note on equitable rectification – Hardwicke Chambers

Posted December 12th, 2013 in equity, mistake, news, rectification by sally

‘Equitable rectification provides a separate, distinct and interesting remedy that is available to cure errors in executed agreements. The availability of the remedy can often be critical in circumstances, for example, where the transaction requires registration at the Land Registry or third party rights and interests are affected by the agreements. In landlord and tenant and real estate transactions the remedy has been granted in a myriad of circumstances ranging from disputes about break clauses, rent review, real estate transfers or sale and leaseback agreements. Rectification in these is therefore of more than passing academic interest, its grant nullifying potentially disastrous consequences when an executed agreement incorrectly records the agreement made between the parties. ‘

Full story

Hardwicke Chambers, 5th December 2013

Source: www.hardwicke.co.uk

Role of Equity in Mistaken Transactions – Speech by the Chancellor of the High Court

Posted November 25th, 2013 in causation, contracts, equity, mistake, rectification, restitution, speeches, trusts by tracey

‘Role of Equity in Mistaken Transactions – Speech by the Chancellor of the High Court. ACTAPS lecture 2013, delivered 20th November 2013.’

Full speech

Judiciary of England and Wales, 21st November 2013

Source: www.judiciary.gov.uk

NCA suffers Supreme Court defeat on assets recovery marshalling claim – 11 Stone Buildings

Posted October 30th, 2013 in appeals, assets recovery, debts, equity, mortgages, national crime agency, news, Supreme Court by sally

“On 23 October 2013, the Supreme Court gave judgment in Szepietowski v. the National Crime Agency (formerly the Serious Organised Crime Agency, ‘SOCA’). The case is now the leading authority on the marshalling of securities and will be of interest to those advising banks and other businesses involved in secured lending. The case, however, will also be of general interest in light of the Court’s consideration of the principles applicable to the construction of settlement agreements which involved the Court distinguishing the decision of the House of Lords in Bank of Credit and Commerce International v. Ali [2002] 1 AC 251.”

Full story (PDF)

11 Stone Buildings, 23rd October 2013

Source: www.11sb.com

National Crime Agency v Szepietowski and another – WLR Daily

Posted October 30th, 2013 in appeals, assets recovery, debts, equity, law reports, mortgages, proceeds of crime by sally

National Crime Agency v Szepietowski and another [2013] UKSC 65; [2013] WLR (D) 408

“The equitable remedy of marshalling was not available where the security held by the second chargee did not secure an underlying personal debt of his to the chargor. Therefore the National Crime Agency, having agreed to take a second mortgage over a property in settlement of its claim that it had been purchased by its owner with the proceeds of crime, could not, when the sale of the property only realised sufficient funds to pay off the debt secured under a first mortgage to a bank, require the bank to enforce its security against another property mortgaged by the owner to that bank.”

WLR Daily, 23rd October 2013

Source: www.iclr.co.uk

Szepietowski (Nee Seery) (Appellant) v The National Crime Agency (Respondent) – Supreme Court

Posted October 25th, 2013 in appeals, confiscation, equity, law reports, mortgages, national crime agency, proceeds of crime, Supreme Court by sally

Szepietowski (Nee Seery) (Appellant) v The National Crime Agency (Respondent) [2013] UKSC 65 | UKSC 2011/0196 (YouTube)

Supreme Court, 23rd October 2013

Source: www.youtube.com/user/UKSupremeCourt

Scuppering unscrupulous spouses – New Law Journal

Posted June 10th, 2013 in divorce, equity, family courts, financial provision, news, setting aside by sally

“What are the implications of a court setting aside a disposal made by a divorcing spouse to a third party? Anna Heenan & Ed Heaton report.”

Full story

New Law Journal, 7th June 2013

Source: www.newlawjournal.co.uk

Day and another v Day – WLR Daily

Posted April 3rd, 2013 in agency, appeals, conveyancing, equity, law reports, mortgages, rectification, succession, trusts by sally

Day and another v Day [2013] EWCA Civ 280; [2013] WLR (D) 129

“For the purposes of the doctrine of rectification in the case of a voluntary settlement it was the subjective intention of the settlor that was of relevance in determining whether the court should order rectification and an outward expression or objective communication of that intention was unnecessary in such a case.”

WLR Daily, 27th March 2013

Source: www.iclr.co.uk

Developing equity – a view from the Court of Appeal – Speech by Lord Neuberger of Abbotsbury, Master of The Rolls

Posted January 24th, 2012 in equity, judges, speeches by sally

Developing equity – a view from the Court of Appeal (PDF)

Speech by Lord Neuberger of Abbotsbury, Master of The Rolls

Chancery Bar Association Conference, 20th January 2012

Source: www.judiciary.gov.uk

Serious Organised Crime Agency v Szeptiewski and others (No 2) – WLR daily

Posted July 25th, 2011 in appeals, equity, law reports, proceeds of crime by tracey

Serious Organised Crime Agency v Szeptiewski and others (No 2) [2011] EWCA Civ 856;  [2011] WLR (D)  245

“In the circumstances which arose the Serious Organised Crime Agency (‘SOCA’) was entitled to invoke the equitable doctrine of marshalling and in effect to be subrogated to a second charge over a property as security for the shortfall left unsatisfied following the sale of other properties.”

WLR Daily, 21st July 2011

Source: www.iclr.co.uk

Has Equity Had Its Day? Hong Kong University Common Law Lecture 2010 – Lord Neuberger of Abbotsbury

Posted October 26th, 2010 in equity, lectures by sally

“This evening, I should like to focus on the role of equity – at first sight, an unusual subject for a common law lecture. But as one of my predecessors as Master of the Rolls, in fact the last Chancery Master of the Rolls before me, Lord Evershed, put it, ‘The function of equity was . . . to fulfil the common law: not so much to correct it as to perfect it’…”

Full text of lecture (pdf)

Judiciary of England and Wales, 25th October 2010 (Lecture delivered 12th October)

Source: www.judiciary.gov.uk