Ziggurat: the crumbling edifice of surety bonds – Practical Law: Construction Blog

Posted January 19th, 2018 in construction industry, contracts, insolvency, news, surety by tracey

‘I read the decision in Ziggurat with some incredulity. I hadn’t intended to trespass on Karen Spencer’s territory, and overall I’d agree with her conclusion that the amendments made to the ABI form seem to have confused rather than clarified matters. I’d also agree with Roddy Cormack’s comment that more radical surgery is needed if the employer wishes to secure earlier payment following the contractor’s insolvency. But I did want to offer some thoughts on what the decision tells us about wider issues in the surety bonding market.’

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Practical Law: Construction Blog, 17th January 2018

Source: constructionblog.practicallaw.com

Guarantor was released from obligations when alterations to property were made without its consent, Appeal Court confirms – OUT-LAW.com

Posted January 24th, 2014 in insolvency, landlord & tenant, leases, news, rent, surety by sally

‘The guarantor of an insolvent commercial tenant cannot be held liable for outstanding obligations if changes were made to the lease without its consent which had the “potential” to increase the burden on the guarantor, the Court of Appeal has confirmed.’

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OUT-LAW.com, 23rd January 2014

Source: www.out-law.com

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

Julian Assange: Bail cash decision delayed – BBC News

Posted October 4th, 2012 in asylum, bail, news, surety by sally

“Supporters of Wikileaks founder Julian Assange face a wait to see if they will be asked to forfeit £140,000 of bail sureties after he sought asylum.”

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BBC News, 3rd October 2012

Source: www.bbc.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

In re Kaupthing Singer and Friedlander Ltd – WLR Daily

Posted October 20th, 2011 in administration orders, insolvency, law reports, Supreme Court, surety by tracey

In re Kaupthing Singer and Friedlander Ltd [2011] UKSC 48;  [2011] WLR (D)  297

“The equitable rule which prevented a person sharing in a fund while his debts to the fund were unpaid was trumped by the rule against double proof in a suretyship situation.”

WLR Daily, 19th October 2011

Source: www.iclr.co.uk

Who will be the two new supreme court judges? – The Guardian

Posted July 28th, 2011 in judges, news, Scotland, Supreme Court, surety by tracey

“The UK supreme court announced this week that it was looking to recruit a couple of new judges (at salaries of £206,857). There is one immediate vacancy following the death of Lord Rodger last month, and there will be a further vacancy next April when Lord Brown retires. Who will get the jobs?”

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The Guardian, 27th July 2011

Soruce: 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

North Shore Ventures Ltd v Anstead Holdings Inc and others – WLR Daily

Posted March 11th, 2011 in debts, disclosure, law reports, surety by sally

“A creditor was under a duty to disclose to the surety any contract or other dealing between creditor and debtor which changed the position of the debtor from that which the surety might naturally have expected, but was not under a duty to disclose to the surety other matters relating to the debtor which might be material for the surety to know.”

WLR Daily, 10th March 2011

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.