Harbour View, contractor insolvency and the importance of a guarantee expiry date – Practical Law: Construction Blog

Posted February 21st, 2018 in construction industry, guarantees, insolvency, news, time limits by tracey

‘One of the interesting features of the recent decision of Coulson J in Ziggurat (Claremont Place) LLP v HCC International Insurance Company Plc is the effect on a guarantee of a contractor becoming insolvent many years after a construction project has been completed. In Ziggurat, the amended ABI model form of guarantee bond had not yet expired. This allowed the employer to make a claim under the guarantee arising out of the contractor’s insolvency, notwithstanding the fact that the contractor’s employment had already been terminated and the project had achieved practical completion.’

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Practical Law: Construction Blog, 21st February 2018

Source: constructionblog.practicallaw.com

Supreme Court rules on contractor’s liability for design – OUT-LAW.com

Posted August 4th, 2017 in construction industry, contracts, energy, guarantees, news by sally

‘A warranty provided by construction company MT Hojgaard (MTH) that the underlying works would have a service life of 20 years took precedence over conflicting terms in the contract, including adherence to industry standards, the UK’s highest court has ruled.’

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OUT-LAW.com, 3rd August 2017

Source: www.out-law.com

Law firm should have warned property investor clients of “Mafia risk”, CA rules – Legal Futures

‘A law firm with offices in Italy and England has lost its appeal against a High Court ruling that it was under a duty to warn British and Irish property investors of the risks of investing in a part of Italy associated with organised crime.’

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Legal Futures, 2nd August 2017

Source: www.legalfutures.co.uk

High Court: commercial tenant cannot assign lease to its guarantor – OUT-LAW.com

Posted March 23rd, 2016 in assignment, guarantees, insolvency, landlord & tenant, leases, news by tracey

‘Anti-avoidance provisions in the 1995 Landlord and Tenant (Covenants) Act prevent a tenant from assigning a lease to its guarantor, the High Court has ruled.’

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OUT-LAW.com, 21st March 2016

Source: www.out-law.com

Judge allows hotel companies to reassign leases without losing benefit of associated guarantees – OUT-LAW.com

Posted January 21st, 2015 in assignment, guarantees, hotels, landlord & tenant, leases, news, third parties by sally

‘A High Court judge has approved arrangements allowing companies within the Hilton group to reassign leases between themselves without the landlord losing the benefit of a guarantee granted by the parent company.’

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OUT-LAW.com, 20th January 2015

Source: www.out-law.com

Constructing safety nets – Hardwicke Chambers

Posted November 18th, 2014 in construction industry, contracting out, guarantees, insolvency, news by sally

‘Notwithstanding the economic upturn, many UK contractors are still tendering for work at negative margins; sustaining losses; and arguably operating one major dispute away from the brink. This article examines the common forms of security used by employers to safeguard performance by contractors, and/or protect against insolvency, and considers the degree of comfort they afford.’

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Hardwicke Chambers, 16th October 2014

Source: www.hardwicke.co.uk

Nominal damages for ‘negligent’ yacht advice – Law Society’s Gazette

Posted August 6th, 2014 in contracts, damages, guarantees, law firms, negligence, news, sale of goods by sally

‘A leading firm has avoided paying out significant damages despite admitting negligence when it gave advice on the purchase of a £3.6m yacht.’

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Law Society’s Gazette, 5th August 2014

Source: www.lawgazette.co.uk

Abercrombie and others v Aga Rangemaster Ltd – WLR Daily

Posted October 16th, 2013 in appeals, employment, guarantees, law reports, remuneration, working time by sally

Abercrombie and others v Aga Rangemaster Ltd [2013] EWCA Civ 1148; [2013] WLR (D) 381

“The question governing liability to make guarantee payments under section 28 of the Employment Rights Act 1996 was whether the employee ‘would normally be required to work [on the day in question] in accordance with his contract of employment’. The fact that an agreement introducing changes to an employee’s working hours was temporary did not prevent the day in question remaining ‘normally’ a working day.”

WLR Daily, 11th October 2013

Source: www.iclr.co.uk

“All Money” Guarantees Mean What They Say – Littleton Chambers

Posted July 31st, 2013 in banking, contracts, guarantees, interpretation, news, vicarious liability by sally

“On 9 July I looked at a Court of Appeal decision which showed that it remained arguable that a change in the arrangements between a creditor and the principal debtor might so alter the subject matter of what was guaranteed as to discharge the guarantor. This week comes a timely reminder that the first and fundamental step is to construe the contract to see what obligations are covered by the guarantee.”

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Littleton Chambers, 19th July 2013

Source: www.littletonchambers.com

Discharge of Guarantees – The Doctrine of “Purview of the Guarantee” – Is There a “Get Out of Jail Free Card” For Guarantors? – Littleton Chambers

Posted July 10th, 2013 in construction industry, contracts, guarantees, news, summary judgments by sally

“Well–drawn guarantees contain comprehensive ‘anti-discharge’ provisions, designed to prevent a guarantor being discharged from liability by any post-guarantee amendments to the principal transaction or extensions of time to pay or other indulgence given to the principal debtor without the guarantor’s knowledge or consent. This right to be discharged is generally known as the rule in Holme v Brunskill (1878) 3 QBD 495) after the leading case that set out the mature principle. Banks and others have continuously refined these ‘anti-discharge’ provisions to try to make sure that the rule in Holme v Brunskill is stripped of its effect.”

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Littleton Chambers, 9th July 2013

Source: www.littletonchambers.com

Essay writing service’s ad banned for implying ‘guaranteed’ grade – The Guardian

Posted May 8th, 2013 in advertising, complaints, examinations, guarantees, news, universities by sally

“An advert for an essay writing service has been banned for implying that students had a moneyback guarantee that they would get the grade they wanted.”

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The Guardian, 8th May 2013

Source: www.guardian.co.uk

Judicial review expected into handling of small firm loan scheme – The Guardian

Posted April 11th, 2013 in banking, guarantees, judicial review, loans, news, small businesses by sally

“The government is facing the threat of a judicial review into its handling of an investigation into Barclays’ involvement in a state-backed loan scheme.”

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The Guardian, 10th April 2013

Source: www.guardian.co.uk

Highbury Pension Fund Management Co and another v Zirfin Investments Ltd and others – WLR Daily

Posted February 22nd, 2013 in banking, debts, guarantees, law reports, loans by sally

Highbury Pension Fund Management Co and another v Zirfin Investments Ltd and others [2013] EWHC 238 (Ch); [2013] WLR (D) 71

“A creditor was entitled to invoke the equitable doctrine of marshalling to claim the benefit of securities held by a doubly-secured creditor even if the two securities did not both come from a debtor if one of the securities derived from a principal for whom the debtor stood surety.”

WLR Daily, 14th February 2013

Source: www.iclr.co.uk

Oxford college sued over using ‘selection by wealth’ for admissions – The Guardian

Posted January 21st, 2013 in fees, guarantees, news, universities by sally

“An Oxford college is being sued for discriminating against poorer students applying to study for postgraduate courses. St Hugh’s, which was founded in 1886, is being taken to court for choosing applicants not just on academic merit, but also on their ability to prove they can pay tens of thousands of pounds for tuition fees and living expenses.”

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The Guardian, 19th January 2013

Source: www.guardian.co.uk

Hackney Empire Ltd v Aviva Insurance Ltd – WLR Daily

Posted January 7th, 2013 in appeals, contracts, damages, guarantees, law reports, surety by sally

Hackney Empire Ltd v Aviva Insurance Ltd [2012] EWCA Civ 1716; [2013] WLR (D) 2

“The rule in Holme v Brunskill (1878) 3 QBD 495, permitting the discharge of a surety’s liability under a guarantee, only applied where the parties to the principal contract guaranteed had varied the terms of that contract without the surety’s consent.”

WLR Daily, 19th December 2012

Source: www.iclr.co.uk

Barclays to be investigated over claim they misused loan scheme – The Guardian

Posted September 21st, 2012 in banking, financial regulation, guarantees, loans, news, small businesses by tracey

“A government business lending specialist is to investigate a loan made by Barclays that turned sour and allowed the bank to collect nearly £70,000 in taxpayer guarantees.”

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The Guardian, 20th September 2012

Source: www.guardian.co.uk

McGuinness v Norwich and Peterborough Building Society – WLR Daily

Posted November 14th, 2011 in bankruptcy, debts, guarantees, law reports, surety by sally

McGuinness v Norwich and Peterborough Building Society [2011] EWCA Civ 1286; [2011] WLR (D) 324

“A petition in bankruptcy against a guarantor could be founded, in certain circumstances, upon a guarantee which had contained a ‘see to it’ clause.”

WLR Daily, 9th November 2011

Source: www.iclr.co.uk

Deeds not ‘delivered’ despite signatures, rules High Court – OUT-LAW.com

Posted October 20th, 2011 in documents, guarantees, news, warranties by tracey

“Guarantees and warranties given by the directors of a company did not take effect despite the signing, witnessing and handing over of documents, the High Court has ruled. The documents in question were deeds and the Court said that they had not been ‘delivered.’ ”

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OUT-LAW.com, 20th October 2011

Source: www.out-law.com

Steinberg heirs in high court battle with bookmaker Stanleybet – The Guardian

Posted July 11th, 2011 in gambling, guarantees, joint ventures, news by sally

“The children of the late tycoon Lord Steinberg are fighting the rump of their father’s Stanley Leisure gambling empire in a multimillion-pound case at the high court in London.”

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The Guardian, 10th July 2011

Source: www.guardian.co.uk

White v Davenham Trust Ltd – WLR Daily

Posted July 1st, 2011 in bankruptcy, debts, guarantees, law reports, statutory demands, surety by tracey

White v Davenham Trust Ltd [2011] EWCA Civ 747;  [2011] WLR (D)  212

“A guarantor of a debt could not set aside a statutory demand served by a creditor where the creditor had security over the assets of the principal debtor, and so could not serve a statutory demand on the principal debtor because of rule 6.5(4)(c) of the Insolvency Rules 1986, but had the benefit of an unsecured debt owed by the guarantor.”

WLR Daily, 28th June 2011

Source: www.iclr.co.uk