High Court decides tenant entitled to rent repayment following break
In a recent ruling, the High Court has, for the first time, implied a term into a lease entitling the tenant to repayment of rent and other sums paid before the break date that related to the period after the break date.
In Marks & Spencer Plc v BNP Paribas Securities Services Trust Company (Jersey) Limited  EWHC 1279, the latest of a long line of recent cases on exercise of break rights, the court has considered whether, following successful exercise of a break, the tenant is entitled to a refund of the rent paid for the period after the break date.
Normally, in order to exercise a break, a tenant has to pay the full quarter’s rent that falls due prior to the break date, even if the break date occurs part way through that quarter. This is on the basis that the break may not be successfully exercised and therefore it is the full quarter’s rent that is owed.
If you are registered and logged in to the site, click on the link below to read the rest of the Allen & Overy briefing. If not, please register or sign in with your details below.
News from Allen & Overy
News from The Lawyer
Briefings from Allen & Overy
The ITC has reaffirmed its power to ban electronic transmissions from the US where those transmissions infringe an intellectual property right or are otherwise based on an unfair trade practice.
A new French law, the ‘Law to recapture the real economy’ (‘Loi visant à reconquérir l’économie réelle’ or ‘Loi Florange’), was made on 1 April 2014.
Analysis from The Lawyer
Imagine you’re the general counsel of London-based private equity investor BC Partners. You’re sipping on your coffee, hashing out the details of your imminent £382m investment into UK-based business publishing company Mergermarket.
‘Exotic’ investors and opportunities for legal work beyond M&A feature in The Lawyer’s high-level roundtable debate on south-east Europe