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.”

Full story

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.”

Full story

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.”

Full story

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.’ ”

Full story

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.”

Full story

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

Skandinaviska Enskilda Banken AB Momsgrupp v Skatteverket – WLR Daily

Posted March 25th, 2011 in EC law, guarantees, law reports, VAT by sally

Skandinaviska Enskilda Banken AB Momsgrupp v Skatteverket (Case C-540/09);  [2011] WLR (D)  103

“The exemption from VAT laid down in article 13B(d)(5) of Sixth Council Directive 77/388/EEC applied to services supplied by a credit institution, for consideration, in the form of an underwriting guarantee to a company wishing to issue shares, where under that guarantee the credit institution undertook to acquire any shares which were not subscribed within the period for share subscription.”

WLR Daily, 10th March 2011

Source: www.iclr.co.uk

Please note once a case has been fully reported in one of the ICLR series the corresponding WLR Daily summary is removed.

White v Davenham Trust Ltd – WLR Daily

Posted November 3rd, 2010 in bankruptcy, debts, guarantees, law reports by sally

White v Davenham Trust Ltd [2010] EWHC 2748 (Ch); [2010] WLR (D) 272

“The mere existence of a secured remedy against another party was not a substantial ground for refusing to allow a creditor to pursue a remedy in bankruptcy against a surety.”

WLR Daily, 2nd November 2010

Source: www.lawreports.co.uk

Please note once a case has been fully reported in one of the ICLR series the corresponding WLR Daily summary is removed.

KG Bominflot Bunkergesellschaft für Mineraloele mbH & Co v Petroplus Marketing AG (The Mercini Lady) – WLR Daily

Posted October 22nd, 2010 in contracts, guarantees, law reports, sale of goods by sally

KG Bominflot Bunkergesellschaft für Mineraloele mbH & Co v Petroplus Marketing AG (The Mercini Lady)[2010] EWCA Civ 1145; [2010] WLR (D) 259

“There was no justification for implying a term in a contract for the sale of goods that goods which were accepted as complying with specification on loading at a seaport should be capable of remaining in an acceptable condition until unloaded at the end of a voyage. The contract specified that the buyer ‘assumes all risks pertaining thereto’. These included the risk of cargo instability. Were the term to be implied it would destroy certainty in the international sale of goods because the testing and certification of goods at the point of loading would always have to make way for a special implied term. Despite the huge inroads made first by the common law and then statute, the underlying principle remained caveat emptor, let the buyer beware.”

WLR Daily, 20th October 2010
Please note once a case has been fully reported in one of the ICLR series the corresponding WLR Daily summary is removed.

Good Harvest Partnership LLP v Centaur Services Ltd – WLR Daily

Posted February 25th, 2010 in covenants, guarantees, landlord & tenant, law reports by sally

Good Harvest Partnership LLP v Centaur Services Ltd [2010] EWHC 330 (Ch); [2010] WLR (D) 48

“The Landlord and Tenant (Covenants) Act 1995 precluded a person who had guaranteed a tenant’s obligations under a lease from being required to give a further guarantee in respect of an assignee of the lease.”

WLR Daily, 24th February 2010

Source: www.lawreports.co.uk

Please note once a case has been reported in one of the ICLR series the corresponding WLR Daily summary is removed.

IIG Capital llc v Van der Merwe – Times Law Reports

Posted June 25th, 2008 in company law, guarantees, law reports by sally

IIG Capital llc v Van der Merwe

Court of Appeal

“Where shareholders of a company over which they had complete control borrowed money for the business, the question whether they guaranteed to repay the loan as principal or as secondary obligors had to be assessed in that context.”

The Times, 25th June 2008

Source: www.timesonline.co.uk

Please note the Times Law Reports are only available free on Times Online for 21 days from the date of publication.

Pitts and Others v Jones

Posted December 19th, 2007 in guarantees, indemnities, law reports by sally

Pitts and Others v Jones

“In distinguishing oral promises as either guarantees or indemnities under the Statute of Frauds 1677, the classic criterion relying on interest in the transaction was not to be taken literally; not every interest in the transaction took the promise out of the statute.”

The Times, 19th December 2007

Source: www.timesonline.co.uk

Please note the Times Law Reports are only available free on Times Online for 21 days from the date of publication.

First £35,000 of every savings account given protection from today – The Times

Posted October 1st, 2007 in banking, compensation, guarantees, news by sally

“Savers in banks and building societies will have the first £35,000 of their deposits 100 per cent guaranteed from today under reforms to prevent a repeat of the Northern Rock affair.”

Full story

The Times, 1st October 2007

Source: www.timesonline.co.uk

Prudential Assurance Co. Ltd. v. PRG Powerhouse Ltd. and others; Luctor Ltd. v. PRG Powerhouse Ltd. and others – WLR Daily

Posted May 9th, 2007 in guarantees, insolvency, law reports by sally

Prudential Assurance Co. Ltd. v. PRG Powerhouse Ltd. and others; Luctor Ltd. v. PRG Powerhouse Ltd. and others [2007] EWHC 1002 (Ch)

“A company voluntary arrangement which contained terms releasing guarantees given by the defendant’s parent company to the claimant creditors, unfairly prejudiced the claimants within the meaning of s 6(1)(a) of the Insolvency Act 1986.”

WLR Daily, 1st May 2007

Source: www.lawreports.co.uk

Please note once a case has been fully reported in one of the ICLR series the corresponding WLR Daily summary is removed.